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28 November 2005
A sizeable swathe of Brits can't face owning up to their debt levels, according to new research.
"Debt denial" is the catchphrase of a survey by MSN, which shows that one in three adults admit lying to their partner about the state of their finances.
Embarrassment, and the need to appear outwardly respectable, seemed to be the main inhibiting factors behind such widespread deception. Older people were far from blameless, with one in 50 over 50s having lied about their pension policies.
Matt Ball, editor of MSN Money, acknowledged the fear factor but also noted that honesty is the best policy when all's said and done.
He said: "Fear seems to be behind so many financial fibs, but when it comes to money it's always better to confront the truth quickly.
"Financial fibs can so quickly build to become damaging financial lies that impact on relationships, morale and future financial security."
Worryingly, younger people seem to be setting themselves up for a lifetime of fibs - they are more likely to pull the wool over others' eyes about the state of their finances, according to the survey.
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