Financial etiquette ‘needs tightening’
July 2, 2007 by admin
Filed under News, News-Banking
British consumers need to tighten up their financial etiquette, according to a new survey carried out by CreditExpert.co.uk.
A survey of 1,500 adults shows that over two-fifths of Britons would lend as much money as possible to a friend in financial difficulties.
CreditExpert’s research shows that Londoners display the greatest generosity to their friends, with nearly half (47 per cent) indicating that they would help out a friend in need.
When buying drinks at social occasions, almost half of people also say they would buy an entire group a round of drinks.
Dating Britons also appear reluctant for someone else to take care of a dinner bill, with four-fifths contending that the person who invited the date should pick up the bill.
Jim Hodgkins, managing director of Credit Expert.co.uk, said: “We’re regularly faced with financial etiquette dilemmas and as well as being important from a social standpoint, they’re also significant financially.”
He added: “It’s all well and good buying drinks for everyone at the bar – but it doesn’t always pay to be generous. If you’re running up debts that you can’t pay off, you could be damaging your credit rating.”
