Do you have ‘secret savings’ from your partner?

5 Mar

Hey Skint pals,

Sorry for the delay since the last posting. For the first time since t’internet was born I’ve had more than a week offline, due to a back and neck injury. It wasn’t all bad. When I wasn’t being pulled and prodded by physios and the like, or quaffing ibuprofen with every meal, I got some time to lie back, listen to music and think. No screens, no housework and no heavy lifting - could have been worse. Now I’m on the mend, but under strict instructions that things must change. So it’s no  more hunching on the sofa as I type – now it’s a retro  desktop for me.

One article that I read whilst on my enforced break has stayed with me and I wanted to share it with you, Skint pals: according to research, just over a third of married Britons claim to have secret savings, which they keep without their partner’s knowledge, with the majority claiming they do so in case of relationship breakdown. Stashing cash away from partners’ prying eyes is  more common than I thought, with 35% of married people claiming to have secret savings. The study was conducted buy vouchercloud, who surveyed almost 2000 couples, all of whom had been married for at least a year.

keep savings secret

What’s fudge got to do with it? Wonder if this pair of fudge-hating hand-holders are clandestine with their cash?

 The top five reasons for secret savings:

1)      In case of relationship breakdown- 47%

2)      Don’t trust my partner with money- 40%

3)      Like to have my own money- 32%

4)      To use on secret purchases for myself- 22%

5)      To use on secret purchases for partner- 17%

Most common ways of stashing secret savings

1)      Savings account- 57%

2)      Money in current account- 31%

3)      Kept for me by friend/family- 25%

The last of these reasons surprised me most – of those surveyed 25% would trust other family members or pals enough to hand over their cash for safe keeping, but wouldn’t trust their spouse with the same.

And, when asked if they intended to tell their partner about their secret savings in the near future, over half - 56% – said ‘no.’ Are they rascals or realists?

In addition, three fifths, 60%, of the respondents with secret savings admitted they thought their partner would be ‘annoyed’ should they find out about their stash – suggesting that they don’t have an entirely clear conscience about their secretive ways.

Now, here’s where it gets really interesting:  70% of those surveyed admitted that they would be annoyed to find out their partner had secret savings without their knowledge.

So, what do you think, Skint pals? Are those who keep their savings stash secret prioritising their loot over love? Or do you think it’s fine to squirrel cash away for a rainy day – it’s up to you what you do with your money after all. Mr Skint, I’d especially like to hear your views . . .  heh heh.

And those who do squirrel cash away – does it stay secret forever? Or is there a point at which you’d reveal all – say if your partner lost her/his job? Or what about if one day you fancy breaking in to your stash to buy yourself a new sports car – try explaining that one . . . It’s truly a conundrum, Skint pals, and that’s how we like it.

Skint x

Photo credit: luridwasbeautiful

2 Responses to “Do you have ‘secret savings’ from your partner?”

  1. Miss Tulip March 17, 2014 at 5:23 pm #

    Interesting survey! Im not surprised that so many people have secret savings in a relationship in case of a break up but I am surprised that 40% people do so because they don’t trust their partner with money- I therefore ask, why are those people still in relationships with their partners, and more so, marry them?! I get that people who are not married will want to have a backup but surely if you commit to marriage you share everything 50% including your savings AND if you are marrying them you should trust them 99.99%! Shocking!
    Miss Tulip
    The Thrifty Magpies Nest

Trackbacks and Pingbacks

  1. March's top ten money saving articles | StepChange MoneyAware - March 20, 2014

    […] According to a study conducted by Vouchercloud, just over a third of married Britons claim to have savings that their partner has no idea about. We speak to many people who keep their family in the dark about money, but this enlightening article from Skint lifts the lid on just why this might be happening. […]

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