Majority of Brits are tight-lipped about finances with friends

A survey by TopCashback.co.uk, released today, reveals that 60% of Brits don’t share details about their earnings with close friends and 80% don’t reveal details about their savings.

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Brits and Financial Openness in numbers

London (PRWEB UK) 1 April 2014

With 800 million Facebook status updates published every day, we’re sharing information more than ever with our friends[1]. When it comes to our finances, however, it doesn’t seem to be the case for us Brits. A survey by TopCashback.co.uk, released today, reveals that 60% of Brits don’t share details about their earnings with close friends and 80% don’t reveal details about their savings.On the contrary, 68% of Brits would tell a close friend if they got a pay rise, whilst 71% would divulge what they spent on an expensive purchase. Other findings revealed:

  • More than three quarters (76%) of Brits would not ask a close friend how much they earn
  • More than half (56%) of Brits wouldn’t recommend being open about finances with even the closest of friends
  • Residents in Wales are the most open about their finances, whilst those in Northern Ireland are the least

The full set of statistics are displayed in the ‘Brits and Financial Openness…in numbers Infographic’.

Notes to Editors

Results based on a survey of 1,386 respondents
Case studies are available upon request
[1] Reference

Media contact

For information about TopCashback.co.uk, consumer-spending insight and access to hundreds of consumer case studies, please contact press(at)topcashback(dot)co(dot)uk or call Francesca Williamson, Lindsey Casey or Anna Hammond on 020 3489 6464.

About TopCashback (http://www.topcashback.co.uk)

TopCashback.co.uk, the UK's most generous cashback site, passes up to 105% of the commission rate that retailers pay it - to advertise their products and services – back to its members. The site has more than 3.5 million members, which is more than double the amount of members in the last two years alone.

TopCashback includes more than 4,000 merchants, from high street big names to smaller, niche online sellers. £3.1 million cashback is earned by TopCashback’s members each month, with £600 million worth of transactions passing through it each year. Consumers effectively get, on average, a 7% discount on each transaction they make simply by clicking through to their chosen retailer via TopCashback.co.uk, instead of going to the retailer’s website directly.

TopCashback also provides consumers with discount codes and vouchers, which can be used in conjunction with earning cashback. In 2012 it launched seven product-comparison tools, covering credit cards and insurance policies, which uniquely find the cheapest, and most appropriate, products for consumers’ needs while paying the commission rate to the individual as a cashback rebate on top.

In January 2013 TopCashback was the first cashback site to provide consumers with access to money-saving services through mobile phone camera technology with its ‘Snap & Save’ service, which gives shoppers cashback on in-store purchases.

In June 2013 TopCashback launched ‘TopCashback Plus’, which enables members to get the very best, unrivalled rewards from their shopping. Plus members receive 105% cashback on all purchases and fast-track customer service in addition to a host of other features. The ‘TopCashback Classic’ free service is still available to members inclusive of all its original benefits.

TopCashback.co.uk was named Britain’s 98th fastest growing private company in The Sunday Times Virgin Fast Track 100, in December 2013. In 2012 it ranked 35th in the league and in 2011 it ranked 5th.


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