Capital students less honest over financial habits

Students in Edinburgh are more likely than most to be liberal with the truth when talking to their parents about their spending habits, new research shows.

Edinburgh University graduating students are less likely to be honest with their parents than those in Glasgow. Picture: Jane Barlow

One in three students in the Scottish capital admits they rarely or never come clean with their parents on the subject of money, compared with just 18 per cent of those studying in Glasgow, a survey by Money Dashboard found.

Only students in Belfast are less truthful with their parents about their finances than those in Edinburgh, while Glasgow students are among the most honest.

Almost 10 per cent of UK students said they avoided talking to their family about their financial worries, which are on the rise as student debts escalate.

The Student Loan Company revealed last year that total student debt rose at a faster rate north of the Border than anywhere else in the UK in 2013-14, increasing by 58 per cent to a record £436 million.

Lisa Raynsford, of Money Dashboard, said: “Lies are often the result of anxiety about what other people might think, having to take decisive action or facing up to something difficult. Now is the perfect time to seek out a few tips and tricks because, by tracking regular outgoings and planning ahead, anyone can learn how to be good with money.”

JEFF SALWAY