Partners keeping savings secret - Savings - News |

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Partners keeping savings secret

Partners keeping savings secret

Category: Savings

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

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 It is now over 6 months old so the content may be out of date.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'."

What next?

Compare the best savings rates
Search all easy access savings accounts
Regular savings calculator

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.