The research, overseen by Ladette to Ladys etiquette expert Liz Brewer, examined nine common financial dilemmas and found that we only know how to respond correctly to a third of them.
For example:
When asked who should pay on a first date, 29 per cent of us said the bill should be divided evenly. Wrong! says Liz Brewer the person who asked for the date first should pick up the bill. Only 18 per cent of us agree with her.
If four of you are having dinner together and one is unemployed, 33 per cent of us think the bill should be split between all four, with the unemployed person paying less. Wrong! says Liz Brewer its good manners for the people who are in work to pay for their friend who isnt. Just 23 per cent of us would do it, though.
Out drinking with a large group, 47 per cent of us would buy drinks for everybody in the group. Wrong! says Liz Brewer form smaller groups and buy drinks within that group. Thats what 23 per cent of us would do.
If a close friend was in severe debt, a generous 42 per cent of us would lend as much as we could afford. Wrong! says Liz Brewer offer advice rather than money if you want to preserve the friendship. Only a quarter of us possibly having learned this the hard way would take this course of action.
We do, however, know the correct financial etiquette when it comes to;
Knowing what to do about sharing the cost of a wedding between two sets of parents We should only receive financial assistance if the grooms parents offered it first
We can also handle friends who borrow our property and return it broken. However, we should tell our friend that they have damaged our property and let them decide what to do next.
And dealing with a partner who is overspending from a joint account by explaining our concerns and asking them to control their spending from then on.
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Were regularly faced with financial etiquette dilemmas and, as well as being important from a social standpoint, theyre also significant financially. Its all well and good buying drinks for everyone at the bar but it doesnt always pay to be generous. If youre running up debts that you cant pay off, you could be damaging your credit rating says Jim Hodgkins, managing director of CreditExpert.
The simple answer is to be fully aware of your own financial position at all times, then you can make a reasoned decision. A service such as CreditExpert can help by showing you how much you owe and how well you are managing to keep up with repayments so you know how generous you can really afford to be.
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