One in four started investing after being prompted by a mate in the pub

SWNS

One in four adults have been talked into investing in stocks and shares – by a mate in the pub.  A poll of 2,000 adults found 61 per cent have pals giving them financial advice over a beer in their local, despite 75 per cent recognising it’s the worst place to get a hot take when it comes to money.  But 21 per cent even put some money into cryptocurrencies following the advice from a buddy.  Others have dodged certain financial products (18 per cent), applied for a credit card (17 per cent) and placed a bet (14 per cent) based on their tips.  However, a savvier 41 per cent have refused to take on board the financial guidance of their friends – as 26 per cent prefer to do their own research.   Helen McGinty, head of finance advice distribution at Skipton Building Society [https://www.skipton.co.uk/financial-advice/financial-planning-explained], which commissioned the research, said: “Everyone seems to have a friend who is always ready to share their ‘brilliant’ money-saving tip or investment ideas.”

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00:00I would definitely not ask my mate for financial advice, especially as she's about 21 years

00:09old, so no, not for me.

00:12I'd say I'd usually get my financial advice probably from my dad, to be honest.

00:18The best person that I'd trust with the financial advice would probably be my flatmate.

00:23I tend to get my financial advice from some reliable sources that I find on the internet,

00:27so there's a few experts in different areas.

00:30I got my financial advice from my partner, mostly, because she's very clever.

00:35I would trust some of my friends over a financial advisor, depending on their own sort of situation.

00:41The thing is, I was very sceptical about experts.

00:44I don't know why, I just always thought that that's in their own interest, they would never

00:48really think about you.

00:49Surprisingly, the best piece of financial advice I got was actually from my dad.

00:53Many years ago, he told me to invest in property as soon as I could, so thanks for that, Dad,

00:57but I probably wouldn't be going to him for much else.

01:00Always save your money first.

01:01Invest into SP500.

01:03No such thing as easy money.

01:04A bad piece of advice I received, probably invest in properties, especially in London.

01:09To invest in certain cryptocurrencies.

01:11Trying to get involved in trading, I think trading 2-1-2, I think it's called.

01:14I do find it surprising people go to family or friends rather than experts, especially

01:18nowadays, if you look online, you can get expert advice for free, so it makes more sense

01:23to go to them for me, rather than someone who's not really that qualified.

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