Financial etiquette ‘lacking in Britain’
The financial etiquette of people in the UK is not of a particularly high standard, it has been claimed.
According to a study from CreditExpert.co.uk, which surveyed 1,500 adults, Britons fail to correctly distinguish who should pay for what and when.
Statistics show that 47 per cent would lend a friend as much as they could possibly afford, perhaps leaving themselves open to credit card debt or failure to meet loans payments.
It added that 77 per cent do not act responsibly when it comes to buying a round of drinks, while 82 per cent were not of the belief that the inviter should pay for dinner on a date.
"We're regularly faced with financial etiquette dilemmas and, as well as being important from a social standpoint, they're also significant financially," said Jim Hodgkins, managing director of CreditExpert.co.uk.
"It pays to be savvy with how you spend your cash socially."
People may want to reconsider before getting that next round of drinks in - the base rate level of interest currently stands at 5.5 per cent.
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