It's Rude To Talk Money
Talking about money is still considered very bad manners, a new Fool study has revealed.
Talking about money is still considered very bad manners, a new Fool study has revealed.
The survey, part of The Fool's 'Let's Talk About Money' campaign, aims to get the nation talking about their cash and managing it more sensibly.
Over 1,500 Fools were quizzed about their attitude to finance.
The majority -- 66 per cent -- said they thought money was a personal subject which should be kept private, while almost a third (30 per cent) felt talking about money was just plain rude.
Worryingly, nearly half of those questioned (49 per cent) also felt that no one would be interested in hearing about their money issues anyway.
Although women are often described as the more talkative of the sexes, it seems they're less forthcoming when it comes to their cash -- just four per cent are happy to talk about the topic. Men are slightly less reluctant, with 11 per cent happy to open up on the subject.
Millions of Britons also think it's bad form to reveal the size of your pay packet. Londoners are the most tight-lipped in this respect, with 46 per cent uncomfortable talking about their salaries.
It seems that lots of people keep their financial status private because they're worried about what other people might think. Some 16 per cent of those quizzed said they were embarrassed about their level of debt.
But these sorts of attitude obviously don't make for an atmosphere of honesty and openness. As David Kuo, head of Personal Finance, points out, the stereotypical British `stiff upper lip' attitude can get people into real trouble.
"Money matters can often spiral out of control if you don't seek advice from others", he says.
"We're not talking shouting your bank balance from the rooftops, but cash conversations mean you'll be able to gain tips from others to help manage your money effectively, reduce debt and start saving!"
More: Money Talk Podcast: Why People Lie About Money