British people are more comfortable discussing so-called ‘taboo subjects’ than money, with people saying they’d sooner discuss sex, religion, and politics than their savings, according to a survey conducted by Totallymoney.com.
- More than 1 in 5 of us have lied about how much we earn
- 24% of men have lied about their salary, compared to 16% of women
- 70% of Brits are uncomfortable negotiating pay rises
- Over half of Brits feel uncomfortable when people insist on calculating their exact share of the bill in restaurants
- 92% are uncomfortable about asking to borrow money from others
Borrowing
The survey, which asked Brits about the conversations and situations involving money that make them most uncomfortable, revealed that lending or borrowing money makes people feel most awkward:
- 92% of Brits are uncomfortable about asking to borrow money from others, while 87% said they’re uncomfortable about reminding people to pay back money they’ve borrowed
- 78% of people said someone asking to borrow money from them would make them uncomfortable and this is especially true for the older generation: 83% of Brits aged 65+ said they’d feel uncomfortable in this situation, compared with 64% of 18-24-year-olds
Earning
In fact, conversations about money are so uncomfortable for British people that 1 in 5 of us have lied about how much we earn, and 53% of us find it difficult when friends or family ask about how salary:
- 65% of 25-34-year-olds said they get uncomfortable when someone who earns less than they do starts talking about their salary, compared to 48% of those aged 65+
- 81% of 18-24-year-olds feel uncomfortable about negotiating pay rises
- 24% of men have lied about their salary, compared to 16% of women.
- When it comes to social situations Brits feel most uncomfortable about splitting the bill equally in restaurants regardless of what each person ordered. But it’s telling someone it’s their turn to buy a round in the pub which sees the biggest male/female divide: 61% of women felt uncomfortable about this compared to 47% of men.
Cost of living
How much Brits spend on their rent or mortgage is also a touchy subject. 42% of Brits are uncomfortable with friends or family asking them how much their rent or mortgage is and over half (52%) said they’d be uncomfortable if a colleague asking them the same question.
Alastair Douglas, TotallyMoney.com CEO, says: “Asking to borrow money from friends or family makes us uncomfortable because we attach additional emotional weight to the transaction. We recognise that there is far more than just the money at stake.
“Although it might be difficult to ask, many people might feel that it’s their only option. They might not realise that they could have alternatives, even after being turned down by the banks, without resorting to payday lenders.
“Borrowing from friends or family might be right for some people, but we want to make the credit market fairer so that there are more and better options for everyone.”
An interactive visualisation of the data, ‘Very British Attitudes to Money’, shows the full list of conversations and situations that make us uncomfortable. View the survey results, including how opinions vary depending on age and gender, at http://www.totallymoney.com/british-attitudes-to-money/
NOTES TO EDITORS
About the analysis
Data for this research came from a representative survey of 2,000 members of the British public conducted by Mortar between 21/09/15 and 25/09/15. All research conducted adheres to the MRS Codes of Conduct (2010) in the UK and ICC/ESOMAR World Research Guidelines. Mortar is registered with the Information Commissioner’s Office and is fully compliant with the Data Protection Act (1998).
A breakdown of the analysis can be found below:
Borrowing/lending
|
Asking to borrow money |
92% of Brits are uncomfortable about asking to borrow money from others |
|
Someone failing to pay back money they’ve borrowed |
91% of Brits said someone failing to pay back money they’ve borrowed makes them uncomfortable |
|
Having to remind someone to pay back money they’ve borrowed |
87% of Brits are uncomfortable about reminding people to pay back money they’ve borrowed |
|
Bumping into someone you owe money to |
85% of Brits said bumping into someone they owe money to would make them uncomfortable |
|
Someone asking to borrow money from you |
78% of Brits said someone asking to borrow money would make them uncomfortable |
Social situations
|
Splitting the bill equally in restaurants regardless of what each person ordered |
82% of Brits are uncomfortable with splitting the bill equally in restaurants |
|
People who calculate their exact share of the bill in restaurants based on what they ordered |
63% of Brits said people who insist on calculating their exact share of the bill in restaurants make them uncomfortable |
|
Having to tell someone it’s their turn to buy a round in the pub |
54% of Brits are uncomfortable telling someone it’s their turn to buy a round in the pub |
Tipping
|
Asking for the service charge to be removed from the bill in a restaurant |
72% of Brits are uncomfortable about asking for the service charge to be removed from the bill in restaurants |
|
Not having enough cash to leave a tip |
64% of Brits feel uncomfortable when they don’t have enough cash to leave a tip |
|
Not tipping in restaurants |
57% of Brits find not tipping in restaurants uncomfortable |
|
Not tipping hairdressers/barbers |
51% of Brits find not tipping hairdressers/barbers uncomfortable |
|
Not tipping taxi drivers |
49% of Brits find not tipping taxi drivers uncomfortable |
Earnings
|
A stranger asking how much you earn |
87% of Brits said they’d be uncomfortable if a stranger asked them how much they earn |
|
Negotiating a pay rise |
70% of Brits are uncomfortable about negotiating pay rises |
|
A colleague asking how much you earn |
67% of Brits said they’d be uncomfortable if a colleague asked them how much they earn |
|
Someone talking about how much they earn if they earn more than you |
58% of Brits get uncomfortable when someone who earns more than they do starts talking about their salary |
|
Someone talking about how much the earn if they earn less than you |
54% of Brits get uncomfortable when someone who earns less than they do starts talking about their salary |
|
Friends or family asking how much you earn |
53% of Brits are uncomfortable with friends or family asking them how much they earn |
|
The idea of working somewhere with an ‘open salaries’ policy |
53% of Brits would be uncomfortable about working somewhere with an ‘open salaries’ policy |
Spending
|
People talking about how much they spent on a gift |
34% of Brits feel uncomfortable when people talk about how much they spent on a gift |
|
People talking about how much they spent on their car |
32% of Brits feel uncomfortable when people talk about how much they spent on their car |
|
People talking about how much they spent buying their home |
31% of Brits feel uncomfortable when people talk about how much they spent buying their home |
|
People talking about how much money they spent on their kids |
30% of Brits feel uncomfortable when people talk about how much they spend on their kids |
|
People talking about how much they spent on their watch |
30% of Brits feel uncomfortable when people talk about how much they spent on their watch |
|
People talking about how much they spent renovating their home |
29% of Brits feel uncomfortable when people talk about how much they spent renovating their home |
|
People talking about how much they spent on their holiday |
29% of Brits feel uncomfortable when people talk about how much they spent on their holiday |
|
People talking about how much they spent on their clothes |
29% of Brits feel uncomfortable when people talk about how much they spent on their clothes |
|
People talking about how much they spent on their wedding |
29% of Brits feel uncomfortable when people talk about how much they spent on their wedding |