Posted on September 7th, 2010 | Categories - Savings
One in six Britons have a secret bank account with an average of £2000 of savings that they haven’t informed their partner about, according to a poll carried out by the Post office.
One in 20 of those surveyed admitted to hiding over £10,000, with men twice as likely to conceal their savings than women.
Almost 20 per cent of participants said they were hiding the money in case their relationship with their partner didn’t work out and 10 per cent said they hadn’t disclosed their secret cash to prevent their other half from spending it. About 20 per cent said the money made them feel more independent.
The figures revealed that women had set aside an average of £1,927 and men had hidden an average of £2,128.
Doug Strachan, director of financial services at the Post Office, said: “While people have secret savings accounts for many different reasons, it’s wise to be open and honest about money with loved ones to avoid strained relationships”.
He continued: “By discussing significant financial decisions with close family and friends, people are more likely to make well-informed choices and prevent potential money issues spiralling out of control”.