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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Britons `remain tight-lipped about financial problems`

11/05/2007

Many Britons do not discuss financial matters with their friends and families, according to new research.

The Scottish Widows study found that three-quarters of people are uncomfortable discussing money with friends.

Additionally, 90 per cent say they have not told their friends how much they get paid, while two-thirds keep their salary a secret from their families.

Commenting on the findings, Mike Hoban, customer and brand marketing director of Scottish Widows, said: "As a nation, we`ve become increasingly liberal - we are happy to talk to our loved ones about sex, relationships and health problems, but despite this modern trend in honesty it seems that money is now the topic we avoid.

"It`s no surprise that the nation is under-saving and under-preparing for the future when money is clearly such an uncomfortable subject."

Those who cannot come to terms with discussing financial issues, such as debt, bad credit and investment matters, may want to seek professional advice, he added.

In related news, chief economist for Lloyds TSB corporate markets Trevor Williams warned today that the recent interest rate rise could put more pressure on UK families.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according