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Only one in five has someone to talk to about money

By Lucy Bower

The Money Advice Service, an independent financial advice service, launches the 'Money Chat' campaign today. Over the next few months it will reveal the results of research into how we feel about money.

The first results indicate that only one in five Brits has a 'money mate' - someone to confide in about their money matters. Just over three quarters of people (76%) say feeling good about their money makes them feel happy, yet only 19% (9 million) have someone to confide in about their money.

The Money Chat campaign hopes to get people talking about money - in the hope it will improve their overall well-being.

The Money Advice Service surveyed 2,000 adults about their money habits. So far it has found that when people feel their money situation 'is in order':

. 33% feel more confident.
. 37% find other aspects of their lives easier to get on with.

The Chairman of the Money Advice Service, Gerard Lemos, commented:

"This research tells us that people see the lifestyle benefits of managing their money but it is very worrying that so many people have no-one to confide in about their money matters."

Tags: money, advice, money advice, Money Advice Service, chat, talk

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