Financial phrases that leave Brits most confused, including 'offshoring' and 'equities'

dailystar.co.uk:

Post Office, which commissioned the research, said: “We believe it’s important to speak to customers using straightforward language, so that they feel confident in their decisions when borrowing. “Personal loans can be used for a variety of reasons, such as buying a car or extending a home, and offer people a different option to other products such as credit cards.“It’s always worth taking the time to read about any financial product you are considering, and taking the time to seek help on jargon if anything is unclear.”It also emerged that more than half of Brits don’t have a clue what their credit score is - but do know what it means - while 66% had no idea what the Bank of England interest rate is.Worryingly, four in ten admit they sometimes feel confused when speaking to finance experts - with one in five not questioning the meaning or jargon in such a situation.A third of those keep quiet as they don’t want to show their ignorance, while 22% would just sign on the dotted line and hope for the best.But this has seen almost a quarter end up in difficult situations financially as a result of not questioning the wording in paperwork.Ed Dutton added: “The financial world is full of jargon and phrases which can be confusing.“The data suggests that many adults don’t feel comfortable in challenging what these phrases actually mean, with some willing to sign for something they don’t necessarily understand.“It is also surprising that many do not feel confident on what the Bank Rate is, which can have a significant effect on the interest rates of loans and mortgages.“It is important that people feel fully informed when making big financial decisions.