Those Males Who Owe Money Unbeknownst To Their Loved One Are In Debt By An Average Of 4, 399 Pounds

Category: Finance, Credit.

Being secretive about finances could put relationships at risk for many Britons, a recently- released study has shown. Meanwhile, about one out of ten( nine per cent) people state that they are in some form of secretive debt.

In research conducted by moneysupermarket, it was revealed that more than a quarter( 27 per cent) of consumers admit to spending money behind their partners backs. Out of such respondents it was shown that they are in the red by an average of 3, 987 pounds. Those males who owe money unbeknownst to their loved one are in debt by an average of 4, 399 pounds. However, monetary problems appear to be graver for men. Such a figure represents an increase of more than 800 pounds from the typical 3, 568 pounds owed by women. Commenting on the study, head of debt, Tim Moss at moneysupermarket, said: "Valentine s Day could be heartbreaking for couples who have secret spending habits and hidden debts.

One way for consumers to take steps to clear covert debt, is to take, however out a cheap loan for consolidation purposes. People must ensure they don t put their financial stability and relationships at risk through reckless spending. " Further research by the price comparison website indicated that significant numbers of women are secretive about the amount they spend on fashion. In addition, 33 per cent do not tell the truth about how much they splash out on their children. More than half( 53 per cent) report that they hide their expenditure on clothes, with about a third( 30 per cent) doing so when it comes to shoes and accessories. Men, tend to secretly, however spend on leisure pursuits. Meanwhile, 15 per cent keep quiet about money splashed out for a night on the tiles. Some 18 per cent do not divulge their expenditure when it comes to gambling, with this figure rising to 27 per cent who conceal how much their hobbies set them back.

Overall, average secretive spending by males comes to 1, 652 pounds- a figure which is almost double the typical 899 pounds that women hide away from their partners. In taking out such a loan it is possible consumers can merge a number of demands on their finances into a single low- cost monthly repayment, so leaving them with more disposable income. Whether looking to get their spending back on track or after owning up to their partners about the amount that they are in the red, a debt consolidation loan could provide valuable help with finance to a significant number of Britons. A debt consolidation loan could be useful for numerous people as last month, head of cards, Donald Macleod at Sainsbury s Bank, reported that the start of a year is an ideal time for people to get to grips with money and pay back the debts that they accrued over the Christmas and new year season. Research by the financial services firm indicated that although the majority of Britons believe they will be" quite comfortable" in being back in the black as the next festive period approaches, one per cent of people, 000 individuals, about 438, think it will take them more than a year to achieve this.

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