Printer Friendly

We don't trust family with our cash!

NEARLY two thirds of West Midland people don't trust their family enough to lend them money, new research suggests.

Carried out by discount website www.VoucherCodesPro.co.uk, it said the main reason for refusal was not believing the money would be paid back.

But 72 per cent of Britons would be happy to lend money to partners, the research suggested.

It was done to investigate how people Britons take care of their money. Some 2,384 people aged 18 and over, all of whom stated they were working full time, were quizzed about the way they look after their money and how they feel about lending money to family members.

Some 64 per cent of people in the West Midlands said they did not trust their family with money.

According to the poll, of immediate family members, siblings were listed as the worst culprits when it came to borrowing money and not returning it (58 per cent), whilst fathers came in second (25 per cent) and mothers third (19 per cent).

Nick Swan, founder and CEO of VoucherCodesPro.co.uk, said: "It's sad to hear that so many Britons don't trust their immediate family enough to lend them money, but once you've had one bad experience with regards to money it's understandably very difficult to go on to trust that person again.

"The family bond is supposed to be the strongest that we hold, but sometimes it's all too easy to take that for granted and treat someone badly simply because we expect them to forgive and forget."

"Money is no laughing matter, whether it's a little or a lot - particularly with the economy still recovering. It's better to keep on top of your money, know what you have to spend and what has to be put aside for bills."

COPYRIGHT 2015 Birmingham Post & Mail Ltd
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:News; Teasers
Publication:Birmingham Mail (England)
Date:Apr 17, 2015
Words:301
Previous Article:Rachael running in aid of pets; MARATHON.
Next Article:Man jailed after police dealing with burglary found drugs farm.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters