British consumers tend to be reluctant to discuss their debt problems with friends and family, a recent study has made clear.
According to research by Saga, half of UK consumers feel money-related issues should not be openly discussed and debt management is among the least popular financial conversation point.
Only around 12 per cent of the people polled by the insurance firm said they are happy to talk about how much money they have borrowed, while around one in five openly discuss what financial products they use.
Reflecting on the results of the study, Saga’s experts suggested that anyone with money problems or a financial query would be well advised to seek the help of professional experts in the relevant fields.
"There is no substitute for professional advice as the recommendations given need to be as individual as we and our finances are," said Andrew Goodsell, chief executive of the Saga Group.
Meanwhile, the Credit Action charity’s latest research has suggested that the UK’s overall personal debt management burden grows by close to £309 million each day.