However revealing one's salary remains one of the final taboos across the ages as many feel talking about their earnings is just a step too far.
Over a fifth (21%) of under 50s are happy to talk about their finances in public compared to just 14% of over 50s, with many citing the fact that they are not worried about their financial situation as the reason for their ease of talking about money. Despite many preconceptions, men are 60% more likely to discuss their finances openly than women
The majority of people reluctant to discuss money are unwilling to do so mainly because they believe such matters ought to stay private or they have been brought up not to (50%). However, almost one in ten people (9%) shy away from discussing personal finances because they are embarrassed about their situation.
The most openly discussed financial affairs are:
1. Who you bank with (60%)
2. Whether or not you have a pension (38%)
3. Type of bank account you have (37%)
4. Type of mortgage and who it is held with (29%)
5. How much your house is worth (26%)
6. Which financial products you use (20%)
7. What mortgage rate you have (19%)
8. How much you earn (16%)
9= How much debt you have (14%)
9= Investments held and their performance (14%)
10. How much you have borrowed (12%)
However, whilst people aged 50 and under are happy to discuss money widely they, along with the older generation, are very selective about who they seek financial advice from. Reassuringly, people are most likely to seek advice from a financial adviser. However under 50s are then more likely to take tips from their parents than their bank manager. People over 50 clearly place more faith in the professionals than friends' or colleagues' wisdom.
