Debt “Numero Uno” for consumer discussion
Matters of personal debt have become the number one talking point for British consumers, as tightening economic conditions affect the way in which we manage our daily lives.
A new study conducted by the Alliance and Leicester has discovered that more than half of all people living within the UK, are actively discussing their own personal financial positioning with friends and family, raising issues of debt to the most frequently referred to topic of conversation in our current society.
A spokesperson for the bank commented that the management of loans, mortgages and credit cards had become more commonplace within peoples conversations, than up and coming sporting events, current affairs and other inter family issues.
There are also however, a number of Brits who are less keen to discuss the particulars of their financial affairs, with the study also revealing that some 40% of consumers preferred to remain tight lipped over the state of their finances, with a further 10% of people openly admitting to deceiving their partner over the true cost of a recent purchase, or playing down the actual balance of a credit or debit card.
Experts believe that a heightened awareness of personal debt, by consumers, is a further indication of the rate in which we have overindulged on personal loans and other forms of credit in the last few years, and simply put, consumers are now starting to realise the error of their ways.
