Love me not my bank account

Nearly one in three (31%) of singletons pledge to remain financially independent in their next relationship and have no plans to sacrifice their autonomy by opening a joint account, according to research by Alliance & Leicester Current Accounts.

In fact, only 3% of singletons would choose to close their own account and share their finances with their future partner. Well over half (56%) say they would prefer to keep their options open in their next relationship - with money both in a joint account and in a separate account in their own name.

Couples retain their independence

While couples might be committed to one another, many are far from committed when it comes to their finances, with more than one in four couples (28%) opting not to have a joint account and insisting on keeping their money separate.

Nearly one in ten (8%) people in a relationship don’t trust their partner enough to share their finances.

Nearly one in five (17%) of couples admit that having joint finances would lead to arguments.

Four in ten (41%) couples say they have never even brought the matter up, vowing to remain financially independent without discussion.

Women are particularly keen to assert their financial independence

Nearly half (42%) of women in a relationship, say financial independence is important for them - compared to just one in four (24%) men.

Almost half (47%) of women also believe they are better than their partner at keeping their finances under control.

Nearly one in four (23%) men think that women really are the ‘better half’ and readily admit they are much more financially astute.

Not that many couples are good at keeping track of their cash:

Nearly one in six (16%) couples admit to not knowing the current balance of their joint account.

One in ten (10%) say they can guess - but estimate it would be out by at least £200.

Four out of ten (41%) couples fail to keep their finances up to date by sticking with the same account – in some cases for up to 20 years.

Helen Palmer, Current Accounts Manager at Alliance & Leicester, says: “It is no surprise to see that many people wish to maintain their financial independence. It seems that money issues, whether discussing them or sharing them, remain an uncomfortable subject for many couples.

“There are benefits of having both independent and joint accounts. It’s always worth couples shopping around to make sure the account they opt for matches today’s competitive deals. Far too many people - both singles and couples - have stayed wed to the same bank for far too long.”