Research from Alliance & Leicester Current Accounts* has revealed that Britons are more likely to ask a friend for financial advice than they are advice on fashion, home interiors or cars, with nearly a quarter (23%) of UK adults saying they would go to their friends for advice on financial issues. More men (28%) would listen to their friends’ advice on finances than their female counterparts (19%), but many more women than men (54%) would go to their friends for relationship advice compared with men (37%). Three times as many men (28%) pay more attention to their friends’ financial know how than they do their fashion tips (9%).

When it comes to taking financial advice from friends people are most likely to consider taking advice on the following financial products:

• Savings accounts – 24%
• Mortgages – 21%
• Credit cards– 16%
• Current accounts – 14%
• Loans – 12%

Over one in ten (13%) of people have actually taken financial advice from a friend in the last 12 months on the products listed above.

However nearly six in ten (58%) said they would not take financial advice from a friend, and nearly half (49%) would never borrow money from a friend. Of those who would be happy to borrow from a friend, 14% said they would feel comfortable borrowing £10 or less, 16% up to £50, and 8% up to £100.

*Research conducted by YouGov 25-27 July on behalf of Alliance & Leicester Current accounts, with a representative sample of 2,178 British adults.