Money Nut

Have you ever lied about what secured loans, personal loans, credit cards and debt you have? Apparently, a lot of Brits are getting into the habit of telling a few porkies about their debts, espcially to their partner, friends and family members.

According to a study by Axa, 44% of people aged 25-44 have lied about money. Overall, one in 3 people have lied to their significant other or a relative and the situation is likely to get worse as the crunch continues.

People may be tempted to keep schtum about just how much debt they have, but is it really the sensible thing to do? With bankruptcy levels increasing by 12% over the last few months, and news of 275 people declaring themselves bankrupt or insolvent every day, I would have thought that burying your head in the sand and not telling people the truth about your situation could only make things worse?