UK Men Less Likely to Seek Debt Advice than Women

A recent research carried out by the Centre for Research in Social Policy revealed that men are less likely to seek debt advice than women.

As such, men were said to give over-optimistic assessment of their financial prospects. This means that males oftentimes do not have a realistic view of the debt problems they face.

Another reason why men prefer not to turn to debt advice is their unawareness of what it actually is.

Commenting on the results of the research, Ms. Elson of Money Advice Trust, said that men need a little more of a push than women and this is why "online tools might be particularly useful for men who are more likely to feel the need to ‘help themselves’ and to regain a measure of control of their finances."

She also highlighted that the research carried out by the Centre for Research in Social Policy has been very helpful in understanding why men ignore debt advice.

A detailed report on the research carried out by CRSP is available on the official website of Money Advice Trust, which launched the study.