Brits hide money problems from partners

Not sharing a money problem with a partner is more common than you think, says Payplan.

The free debt advice and solutions company helps over 100,000 people every year and says it is ‘incredibly normal’ not to tell a partner or loved one when you get into debt.

It’s perfectly normal to feel guilty, embarrassed, worried about being judged, and even a failure. Payplan says these are all natural responses to the situation you’re in.

But while you can’t talk to a partner or relation, you can share the burden with someone who can help. The Citizen’s Advice Bureau, National Debtline or a free provider such as Payplan are a listening ear, they can advise and, in most cases, they can help set up a plan to help you start managing your debt, and ultimately finding a way out of the problem.

According to the Money Advice Trust it’s men who are more likely to hide their debt issues, but Payplan says it receives calls from both sexes.

“I think people, male or female, are just relieved to hear a friendly voice and someone who can relate to their situation and isn’t going to judge them,” said Diane Watson, who leads Payplan’s specialist advice team.

“Sharing an issue with a trained advisor who has experience and can be trusted, makes a difference – people start to feel better about themselves, their situation, and very importantly, about their relationship.”

With money worries and redundancy top of the list of reasons for relationship breakdowns in Relate’s 2010 report ‘The Way We Are Now’, it is vital partners do talk to someone and get debt help.

“When you ask for debt help and start to manage your money issues you also start to manage your relationship and that’s the best feeling ever,” added Diane.

For more information about issues including debt consolidation, bankruptcy, Individual Voluntary Arrangements (IVA) and Debt Management Plans (DMP), visit: payplan.com