Joint bank accounts were once considered a symbol of unity and trust in relationships. But British couples are rewriting the rules of how they handle money together.
According to our new report, featured in The Daily Mail, almost a third of Brits in long-term relationships (31%) now refuse to open a joint account at all, while 44% believe joint accounts are outdated, old-fashioned, or even sexist.
For many, financial independence is key: 32% say they want full control over their own spending, while others cite concerns about overspending partners (20%) or insist that how they use their money is simply no one else’s business (29%).
The rise of secret savings
Behind this independence lies a more complicated reality. Nearly half of couples (47%) admit to having a secret savings account their partner knows nothing about. On average, those hidden savings amount to an impressive £19,600.
The motives vary: 44% say they’re saving for a rainy day. Another 17% admit they’re setting aside money for purchases their partner wouldn’t approve of, whereas 10% have a secret “break-up fund” in case the relationship ends.
Hidden income and unspoken debt
Financial secrecy goes beyond hidden savings. The research found that 15% understate their income so they appear to have less money than they do. Moreover, 25% keep pay rises secret, pocketing the extra income and 13% refuse joint accounts due to their partner’s poor credit rating or debt.
It’s no wonder that the average couple argues about money 13 times a month, with almost a third (31%) blaming financial secrets as the root cause.
Why transparency is essential
Our Head of Investment Consultants, Chris Rudden, explains: “It’s interesting that so many couples are turning away from joint bank accounts which were once seen as a symbol of unity and trust. While financial independence is empowering, it’s crucial that this shift isn’t driven by secrecy or mistrust. Choosing not to share finances should be a conscious decision rooted in mutual respect and transparency, not a way to hide spending habits or income.
Financial secrecy is a red flag that undermines trust and can be deeply damaging to relationships. Transparency builds the foundation for long-term financial wellbeing, helping couples work together toward financial stability and ultimately achieve their life goals.”
Key takeaway for investors
Whether couples choose joint or separate accounts, the real difference comes from clarity, communication, and a shared plan. Building financial goals together, from short-term savings to long-term investments, creates stability not only for individuals, but for the relationship as a whole.
At the end of the day, a sound investment strategy isn’t just about returns – it’s about peace of mind, trust, and building the future you want, together.
*As with all investing, financial instruments involve inherent risks, including loss of capital, market fluctuations and liquidity risk. Past performance is no guarantee of future results. It is important to consider your risk tolerance and investment objectives before proceeding.
