UK Wedding News
10/12/2014
More than one in 10 people (11%) hide savings from their partner, a new poll has revealed.
In addition, women (12%) are more likely to keep secret savings than men (9%).
The findings, released as part of the Lloyds Bank Family Savings report, show there is an increasing number of people across Britain who are secretly stashing money. On average, those people keep £1,262 hidden away. UK-wide, this is a total secret stash of more than £3bn – a 9% rise from last year (£2.8bn).
Other statistics from the report claimed that younger couples are continuing to save more money independently, while 63% of people in Britain keeping their investments and savings in sole accounts.
In fact, the younger the couple, the more likely they are to save individually. For those aged 55 or over, it is around the 50% mark, while 82% of coupled aged 18 to 24 choose to save individually. Last year, this was 80%.
For the couples who do have a joint savings account, 49% admitted they expect their partner will tell them before they spend money from it. However, 9% said their partner would not need to tell them.
The average spending limit – without having to ask for permission from their other half – now stands at £286. In 2013, this was £183.
When it comes to the sexes though, it is the men's spending habits that are more closely monitored. On average, men need permission to spend £245 or more, while women's average 'free spending limit' is £321.
Elsewhere, one in 10 respondents admitted they keep some of their savings a secret from their partner; with women more likely to keep quiet about their finances. 9% of adults confessed they had taken their partner's money without telling them, with those in Wales the most likely to admit taking without saying (12%). Those in Northern Ireland were said to the most "hands off", with just 6%.
Philip Robinson, Savings Director for Lloyds Bank, said: "The number of couples keeping savings secret is on the rise with the UK's secret savings pot growing 9% to just over £3 billion. However it is worth considering pooling funds between partners as combined savings could provide greater returns on interest."
(JP/IT)
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1 In 10 Hide Savings From Their Partner
More than one in 10 people (11%) hide savings from their partner, a new poll has revealed.
In addition, women (12%) are more likely to keep secret savings than men (9%).
The findings, released as part of the Lloyds Bank Family Savings report, show there is an increasing number of people across Britain who are secretly stashing money. On average, those people keep £1,262 hidden away. UK-wide, this is a total secret stash of more than £3bn – a 9% rise from last year (£2.8bn).
Other statistics from the report claimed that younger couples are continuing to save more money independently, while 63% of people in Britain keeping their investments and savings in sole accounts.
In fact, the younger the couple, the more likely they are to save individually. For those aged 55 or over, it is around the 50% mark, while 82% of coupled aged 18 to 24 choose to save individually. Last year, this was 80%.
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For the couples who do have a joint savings account, 49% admitted they expect their partner will tell them before they spend money from it. However, 9% said their partner would not need to tell them.
The average spending limit – without having to ask for permission from their other half – now stands at £286. In 2013, this was £183.
When it comes to the sexes though, it is the men's spending habits that are more closely monitored. On average, men need permission to spend £245 or more, while women's average 'free spending limit' is £321.
Elsewhere, one in 10 respondents admitted they keep some of their savings a secret from their partner; with women more likely to keep quiet about their finances. 9% of adults confessed they had taken their partner's money without telling them, with those in Wales the most likely to admit taking without saying (12%). Those in Northern Ireland were said to the most "hands off", with just 6%.
Philip Robinson, Savings Director for Lloyds Bank, said: "The number of couples keeping savings secret is on the rise with the UK's secret savings pot growing 9% to just over £3 billion. However it is worth considering pooling funds between partners as combined savings could provide greater returns on interest."
(JP/IT)
Top stories
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LeToya Luckett-Walker Is Pregnant
Charlotte Crosby Finds New Romance
Lydia Bright Gets Candid About Giving Birth
Lana Del Ray Splits From Boyfriend
Angelica Ross Learns Of Boyfriend's Secret Life
Ashley Graham's Breastfeeding Struggle
Susanna Reid's Mother's Day Plans
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