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Consumers 'talking more about money'

Whether it is how much they spent on their credit cards over Christmas or the size of their rainy day fund, consumers are talking more about money, according to a new study.

More from Trends and Analysis
9 January 2009

Consumers 'talking more about money'

Research by CreditExpert indicates the global economic downturn could well have broken what has traditionally been considered a taboo subject - chatting about cash.

The study suggests more than half (53 per cent) of consumers are more likely to discuss personal finances with other people than they were 12 months ago.

More than a quarter (27 per cent) of people are keen to gain advice from people or find out whether their credit situation is out of the ordinary.

Darryl Bowman, director of CreditExpert, says it is good to see people using those around them as "sounding boards" for fiscal discussions.

"As we open up about our finances, the easier it becomes to address issues," he adds.

In recent weeks, CreditExpert recommended people destroy documents containing their personal details - such as credit card information - before disposing of them.

Written by Sam Dawson

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