One third of lovers do not want to talk about debt
Report by Lowell shows
One in three UK adults surveyed would not discuss financial debt problems with partner
Just over a third of people in the UK are uncomfortable about discussing debts or financial problems with their romantic partner, a new study ahead of Valentine's Day shows.
The survey of 1,000 UK adults revealed that 36% of respondents were uncomfortable having such discussions with their partners, while only 42% believe talking openly about debt provides a clearer path to resolving concerns about their finances.
The most common reasons for avoiding discussions about debts were identified as feelings of shame, stress or embarrassment.
The Lowell survey follows a report published earlier this week by the Financial Conduct Authority which found that more than half (52%) are in some sense considered financially vulnerable (27.7m), with around one-in-three (15.9 million) reporting they expect their household income to drop in the next six months, while a quarter (13.2 million) expected to struggle to make ends meet.
John Pears, UK managing director at Lowell, commented: "We feel it is time to destigmatise debt and encourage anyone who is struggling financially to open up to someone who they feel comfortable with, be that family, friends or support organisations.
"As our report shows, by talking about debt you may feel a weight lifted from your shoulders and get the support you need to become debt free."
Further reading
More on Individual Protection
From admin clerk to 'industry goliath': 33 years of Richard Kateley
‘On my first day I was given an ashtray, a stapler and a staple extractor…’
LifeSearch Awards: Shortlists announced
Digital event takes place 10 March
Craig Brown: If you believe in protection, customers will listen
'An enthusiastic adviser is often infectious'
Royal London pays out £13.1m in Covid claims
Throughout 2020
'A long way to go' for trust simplification
But 2021 could be a turning point
