| As a nation, we love to talk. At home, on the bus, at | | | | consolidation actually mean in real life. |
| work, on the phone: even when we're not actually | | | | They might also act more quickly when they need |
| talking, we're texting, e-mailing and chatting through | | | | professional debt advice or help, and that's something |
| blogs, instant messaging and social networking sites. | | | | that everyone would recommend, from government |
| It seems there's no end to the ways we'll | | | | representatives and charities to public bodies like the |
| communicate - and no limit to the things we'll talk about. | | | | Legal Services Commission. |
| Or is there? When fool.co.uk asked over 1,500 people | | | | Learning to loosen lips & tighten belts |
| about attitudes to money, a full 66% felt it was a | | | | Another thing we're all agreed on is the need for more |
| personal subject and best kept private. 30% even felt | | | | education - a particularly important kind of |
| that it was rude to talk about money. | | | | communication. A recent report from youth charity |
| Yet finance is a huge part of our lives. If people | | | | Rainer discovered that 77% of the UK's under-21s |
| weren't so interested in money, the media wouldn't be | | | | already had experience of being in debt, with one in |
| so full of stories about making, managing, saving and | | | | five passing the £10,000 mark. |
| spending it. It's as though we're eager to listen, but not | | | | So it's encouraging to see moves by the government |
| to talk. | | | | and industry professionals to prepare tomorrow's |
| Maybe keeping quiet about our own finances is just | | | | adults for an increasingly complex financial world. From |
| part of our national identity. Perhaps we feel like we're | | | | 2008, for example, the core GCSE mathematics |
| boasting when we share good news, or looking for | | | | curriculum will include personal financial education, |
| pity when we share bad news. | | | | helping pupils learn to manage their finances and live |
| Silence is golden, but... | | | | within their means. |
| According to uSwitch, around 23% of the UK's | | | | And the Association of Business Recovery |
| residents say their borrowing is unmanageable or | | | | Professionals, known as R3, has developed case |
| nearly so. And Unbiased.co.uk reports that over two | | | | studies and other classroom materials designed to |
| and a half million don't even know how much they | | | | enhance pupils' financial judgment. As Insolvency |
| owe! | | | | Practitioners, its members have seen too many people |
| If we were better at talking about our debts, there's a | | | | overwhelmed by debt, and they're going into schools |
| good chance we'd be better at managing them. After | | | | to share their experiences with 16-18 year-old pupils, |
| all, pretty much everyone has some kind of debt, | | | | teaching them about credit, debt and money |
| whether it's a mortgage, a loan or an outstanding bill. | | | | management. |
| The more people keep their debts to themselves, the | | | | People all over the world are affected by debt, but it |
| less they'll learn from the experiences of others. | | | | seems that UK residents are particularly likely to suffer |
| If they were more open about their finances, they | | | | in silence. Hopefully, initiatives like these could help us |
| might be surprised to find out how many friends and | | | | get over our reluctance to talk about debt. They might |
| acquaintances are in the same situation. They might | | | | be aimed at youngsters, but they could easily benefit |
| feel less embarrassed, and pick up some useful tips on | | | | parents - at least the parents who ask "what did you |
| budgeting, debt management and legal rights, or find | | | | learn at school today? |
| out what '25% APR', 'payment holiday' and debt | | | | |