People lose €150 a year due to social awkwardness
New research commissioned by AIB indicates that social awkwardness regarding money costs Irish adults approximately €150 annually in uncollected debts and overpaid shared bills. The findings are being used to promote the bank's new digital banking tools.
Why it matters
It highlights the intersection of behavioral psychology and personal finance, showing how social norms impact individual economic health.
New research shows that social awkwardness around money is costing adults in Ireland an estimated €150 every year in overpaid split bills and uncollected social debts.
The new behavioural science research, commissioned by AIB, shows that only one in 25 people (4%) would always ask for money owed to them, regardless of the amount.
It also reveals that most adults let up to €50 slide rather than have an awkward conversation, even though the average adult currently has over €100 in unchased debts owed by friends, family, or colleagues.
The research comes as AIB launches its new Everyday Banking campaign, Built For Life, which highlights how small, daily financial choices represent key moments of forward momentum.
Today's research shows that four in ten adults say money left unspoken has soured how they feel about a relationship, while two in three feel discomfort when someone suggests itemising a group bill.
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