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Our finances are one of those things that people often keep close to their chest. But a recent study of 2,000 consumers, conducted by first direct, discovers that some people are a little more secretive when it comes to their finances than others – and people from Gloucester appears to be top of the table.

Below are the top ten cities that are most likely to fib about their finances and have been untruthful in the past about anything from current accounts to store cards.

Top 10 most secretive cities

  1. Gloucester – 43% have fibbed about some area of their finances in the past – most likely from their partners (67%), with the main culprit being debt (21%)
  2. Worcester – 38% have fibbed about some area of their finances in the past – most likely from their partners (40%) and parents (40%), with purchases being the most likely confession (23%)
  3. Leeds – 35% have fibbed about some area of their finances in the past – most likely from their partners (52%), with debt being the most likely secret (21%)
  4. Southampton – 33% have fibbed about some area of their finances in the past – most likely from their partners (56%), with debt being the most likely fib (16%)
  5. Birmingham – 32% have fibbed about some area of their finances in the past – most likely from their parents (36%), with debt being the most likely secret (14%)
  6. Manchester – 32% have fibbed about some area of their finances in the past – most likely from their partners (54%), with debt being the most likely secret (13%)
  7. Plymouth – 32% have fibbed about some area of their finances in the past – most likely from their partners (71%), with savings being the most likely secret (15%)
  8. Cardiff – 32% have fibbed about some area of their finances in the past – most likely from their partners (59%) – with debt being the most likely secret (15%)
  9. London – 32% have fibbed about some area of their finances in the past – most likely from their partners (43%) – with debt being the most likely secret (16%)
  10. Belfast – 32% have fibbed about some area of their finances in the past – most likely from their partners (56%) – with credit cards being the most likely secret (14%)

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In a bid to cut costs, over half of people in Gloucester admitted that they had taken toiletries or other items from hotel rooms (57.14%), and nearly a quarter admitted that they have kept the tag on a clothing item to then return it after being worn (21.43%). Interestingly, when asked which statement best describes their attitude towards money, 43.86% of people in Gloucester said “I only save when I have a clear goal as to what I’m going to spend it on”

Although the research does show us that people from Gloucester were those most likely to have hidden money from someone (21% admitted to doing so) – don’t be too quick to judge as the majority believe having money means they can treat the ones they love (29%).

Buyer’s regret – avoid January’s financial hangover

Taking into account the time of year (with Christmas quickly approaching), it’s important to be aware and on top of your finances; taking extra care to not spend beyond your means – as tempting as it might be! With the research from first direct revealing that over 1 in 2 people in Gloucester have regretted purchases (57%); over a third have felt guilty about buying something (35.71%); and 29% have spent over budget on a gift – here are some top tips from chief exec Tracy Garrad for avoiding the Christmas financial hangover below:

Tracy Garrad’s tips for getting through December with no financial regrets:

  • Work out a budget you can afford – instead of choosing gifts and then working out if you can afford them or not, calculate a budget that is within your means and choose gifts based on this.
  • Plan your festive calendar – events and social activities across Christmas can be very expensive. Plan out as thoroughly as you can what you have coming up and how much you can afford to do.
  • Start saving early to spread the cost – Ask yourself how much you spent on Christmas 2015 then work out a manageable amount to save from each monthly income.

 

Gloucester News Centre – http://gloucesternewscentre.co.uk

Revealed: Gloucester is the UK’s most secretive city by Shaun Moore | Gloucester News Centre - http://gloucesternewscentre.co.uk/