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Partners keeping savings secret

Partners keeping savings secret

Category: Savings

Updated: 20/05/2013
First Published: 16/05/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Millions of people are deceiving their partners by keeping their true salaries secret and stashing away thousands of pounds for themselves.

A survey by All About Money revealed around eight million people are hiding away an average of £6,800 from their other halves, with 18% stashing away at least £10,000 in secret accounts.

Women are the most likely to keep money hidden in a secret account, although men possess the highest value of secret funds at an average of over £8,000.

Over two million people admitted to lying to their partners about how much they earn, with around one million claiming they earned less than they actually do to pull the wool over their partners' eyes.

In an age of austerity, it is thought many people are deciding to 'keep a bit back' for themselves to fall back on in the event of a relationship breakdown or simply to splash out on self indulgent treats without their partner's knowledge.

Ian Williams of All About Money, said: "For most people, relationships are built on trust and openness and our research shows that this honesty usually extends to our finances too.

"However, there is a minority who don't take that approach. Some people are misleading their partners about how much they earn, or stashing some cash away 'just in case'."

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