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Money under mattress

Does your partner have a secret stash of cash?

Is your greatest relationship taboo money? Talking about money can be tricky, and it seems some people could even be pulling the wool over their partner’s eyes when it comes to their bank balance. Should you take the time to talk about money with your Valentine?

We talked to 2,000 UK adults in serious relationships ahead of the big V-Day,  and uncovered a surprising number of ‘escape funds’ – a sum of money hidden from a partner, specifically intended to allow them to have the financial means to leave the relationship.

One in ten (9%) married adults in the UK admitted they currently have one, while an additional 14% said they'd had one previously.

The average escape fund was found to be around £7,500.

Secret cash stash

Nearly one in seven (13%) married UK adults has a secret ‘stash of cash’ which their partner doesn’t know about, while a further 15% have had one in the past.

While most people (41%) cited ‘financial independence’ as the reason for keeping their money separate, 38% of people were worried their partner would want to spend the money, and one in five (20%) wanted to be sure their partner didn’t just like them for their money.

Hidden debt

Keeping a secret stash of money can be detrimental to your relationship – but the repercussions of heavy debt can have a more serious and negative impact.

Nearly a third of UK adults (30%) have been with a partner they later found out was in serious debt. One in five (18%) admitted they have hidden their own debts from their partner.

Manage your money effectively together

There is no doubt talking about money can be daunting. In fact, our research showed the average couple has 39 arguments about money per year. 

However, having a conversation about it can save heartache further down the line.

Why not sit down with your partner and plan some financial goals to work towards together? Whether it’s balancing your budget, using spare cash to start an emergency fund or saving for a holiday, it’s often easier to do things when you have something to aim for.

Don’t forget just because you might argue over money (most couples do), it doesn’t mean that your relationship is heading for the rocks. Some people are spenders and some are savers. But just because you have completely different attitudes to money doesn’t mean you can’t work to find some middle ground.

To find out how to break the money taboo and get some top tips on talking about money in your relationship, read our guest post by Corinne Sweet, author of ‘Stop Fighting About Money:  How Money Can Make Or Break Your Relationship’.

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