RSS Feed

Related Articles

Related Categories

One in five partners keep a secret 'money stash' from their other half

15th May 2013 Print

Do you know how much your partner earns? Do you know how much they have saved up? Research from financial solutions provider All About Money suggests that many people aren't really sure - or they're being actively misled.
 
Over 5.5 million people don't actually know how much their partner earns. Interestingly, an estimated 6 million say that their partner doesn't know how much they earn.
 
This isn't surprising when you consider that around 2 million people have lied to their partners about how much they earn. A million told their partner they earn more than they actually do, and another million told their partner they earn less.
 
Just over 8 million people - that's one in five partners - have savings that they keep secret from their other half. 22% of women have money put away, compared with 20% of men. Although women are slightly more likely to be stashing their cash, men have over £3,000 more (£8,554.53) hidden on average than women do (£5,391.41). The average amount stashed away overall is £6,805.51 - but 18% of people with a secret money stash are hiding over £10,000.
 
Ian Williams from 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 that don't take that approach.  Some people are misleading their partners about how much they earn, or stashing some cash away 'just in case'."