Fear of seeming 'stingy' means debt

Press Association
Updated
Blonde thoughtful girl gets money from her red purse in large store; shallow depth of field; Shutterstock ID 102121636; PO: DF-M
Blonde thoughtful girl gets money from her red purse in large store; shallow depth of field; Shutterstock ID 102121636; PO: DF-M

%VIRTUAL-SkimlinksPromo%Fears about appearing "stingy" in front of friends and family are helping to plunge people into over £1,000 worth of debt which is purely related to their social lives, research by a Government-backed body has found.

Nearly half (48%) of people surveyed by the Money Advice Service (MAS) admitted to falling into debt because of their social habits, with the average amount of "social debt" put at £1,260.

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