Hold On!

Hold Up

Please select a minimum of three sectors in the menu above.

Got It
  • 13% of Britons have lied about the salary they earn
  • 13% of Britons have lied about the salary they earn
    Jud Mackrill (2019) ©
VOX POP

Why do Britons lie about money issues?

Whether it’s asking a mate to pay back cash they borrowed a month ago or divulging the size of one’s pay cheque, many people hate talking about money. Canvas8 spoke to eight Britons to understand what financial matters they find difficult to discuss and why they sometimes blur the truth.

Location United Kingdom

Scope
Have you ever lent money to a mate and wondered weeks later why they still hadn’t paid you back? You might have been unsure if they were doing it on purpose or if they’d simply forgotten, but the thought of bringing it up filled you with dread. You’re not alone. On average, Britons are owed £98 in ‘friendly debt’ – money they have loaned to friends or family and haven’t gotten back. [1]

An awkwardness around money matters may be preventing Britons’ from claiming back what they’re owed. Indeed, a survey commissioned by Lloyds found that ...

Canvas8

Related

  • Article image MyEva: personalising money advice for Britons

    One-third of Britons feel worried about their ability to save money for the future, and inscrutable financial jargon doesn’t help matters. To empower people across the UK to take control of their finances and saving goals, chatbot-based platform MyEva offers jargon-free financial advice.

  • Article image Monzo Gambling Block: an in-app aid to limit debt

    With problematic gambling impacting financial, social, and mental health, challenger bank Monzo has unveiled an in-app tool that helps users restrict their betting and be more responsible with their money. How does it use tech to empower people without taking away their autonomy?

  • Article image Starling Bank: disruptive banking for Gen Y

    Starling Bank is a challenger that looks more like a Silicon Valley start-up than a traditional bank. Offering accounts that can be opened on a mobile in minutes and a focus on taking ownership of your finances, Starling could be the financial institution to earn the trust of Gen Y.

  • Article image Plum: a bot for better money management

    While 55% of Britons believe their mental health and wellbeing are impacted by financial worries, many will avoid seeking advice from banks for fear of judgement. Plum gets around this with its Facebook Messenger-based bot that helps users save up, track their spending, and start investing.