Do you have a secret account hidden away from your partner? It turns out that this is more common than you might think. An infographic from autoeurope.co.uk has found that almost 25% of British adults are saving money on the side- money that their partner has no idea about.
Researchers talked to more than 1,500 Brits in relationships, and the results were startling. The average guy has around £4,234 saved up, while the average female has been squirreling away an average of £2,768.
Why? 41% say it’s because they like to keep their financial independence. While 23% said they’re hiding it because their other half is terrible with money.
Some are merely saving for a nice holiday- with 27% saying they need a break. 38% of the people in this category are planning a European holiday, while 30% want a tropical holiday somewhere far-flung…without their partners.
To me, the idea of taking a solo trip sounds great, but I don’t see why these people can’t let their partners know that that’s their goal. It just seems a bit…seedy to keep it that quiet.
Interestingly, 23% of the people saving money without their partner’s knowledge are doing it because they want an exit strategy in case that relationship ends. And most people seem to think they need to have a lot saved. According to the poll, the average saver thinks they need around £22,748 as a buffer just in case that relationship imploded.
Personally, this made me wonder how many people are staying in relationships for financial reasons. That’s a lot of money to save, and a lot more than the average person has secretly tucked away. But then I’ve always been a bit of a cynic.
Some people simply can’t be trusted with money, and one in five of these savers said that if their partner found out about the money they would want to immediately spend it.
So where are these people hiding their money? 35% chose an online savings account, which seems like the smartest way to go about it. An online savings account won’t get you caught with paper statements in the post, although 26% are walking on thin ice, as they still have a normal account and are destroying their statements each month.
Some people are still using hiding places like the back of wardrobes or their underwear drawers to keep cash hidden, which is a bit of a risk in my opinion. 11% are handing their savings over to mum and dad who are saving it on their behalf, which seems like a smart idea.
10% of women are keeping their cash in a bank account which is still in their maiden name (smart move really), while 12% of those surveyed admitted to having an offshore account.
Are you saving money on the sly? Do you think your partner is hiding money from you? Let me know in the comments below.