Couples money secrets add up to a lack of trust
11 May 2018
- Nearly a third of couples have built up secret savings and one in five hide debts from their partner
- More than a fifth admit their partner doesn't even know how much they earn
- Lack of trust is the key to keeping finances secret but couples are hurting themselves by not coming clean
Nearly one in three couples (31 per cent) have secret savings or investments that they have deliberately started without telling their partner or spouse. And it’s not just a few pounds, as seven per cent admit to hiding savings of over £50,000, according to Prudential’s latest annual research into the retirement aspirations and financial planning of UK couples aged 40 and over.
The study exposed a whole host of financial secrets - couples do not just keep their savings secret as more than a fifth (21 per cent) say their partner doesn’t even know how much they earn, while 19 per cent hide debts.
Lack of trust seems to be a driving force behind many secret finances. A third (34 per cent) admit they have no specific plans for their secret income but just don’t want their partner to be able to access all their money. Nearly a quarter (22 per cent) do not trust their partner to make the right decision about their finances so want to keep control.
More than two fifths (44 per cent) of those keeping income secrets say their basic salary is higher than their partner thinks it is, while a quarter (25 per cent) have income from an investment that their partner is not aware of.
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