A financial confidante 'can help reduce money worries'

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A financial confidante 'can help reduce money worries'

Talking to a friend about money matters can help to reduce stress levels, a leading psychologist has claimed.

While many credit cards and financial companies offer products to help consolidate debt, simply talking to a friend can help to reduce people's anxieties about their debt levels or just general money worries, claimed Terri Bodell, a clinical psychotherapist and the woman behind the Stress Doctor consultancy business.

When it comes to feeling good about individual circumstances, "financial security counts", but it offers no personal comfort when things go wrong, according to Dr Bodell.

She added: "It's true, you do need somebody to talk to and you do have to be careful and make sure it's somebody you can trust and confide in."

Justin Modray, a spokesman for Candidmoney.com, issued advice regarding credit card use. Although stressing that they can be a useful way of paying for goods and getting free credit provided users pay off the debt at the end of each month, he said they can quickly turn into a way of amassing unmanageable quantities of debt.

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