Warning issued to couples who have money sat in separate bank accounts

James Rodger
·2-min read
Warning issued to couples who have money sat in separate bank accounts
-Credit: (Image: Reach Publishing Services Limited)


Couples who have savings have been warned their partner may be keeping the true extent of their pots a secret. As many as one in six people have savings they’re keeping a secret from their partner, research from Hargreaves Lansdown has warned.

The figures show 43 per cent haven’t mentioned it, while two in five attribute their secret stash to in case it's needed for emergencies. 32 per cent say, romantically, they have secret savings just in case their relationship ends.

Sarah Coles, head of personal finance, Hargreaves Lansdown: “There are millions of secret savings accounts across the UK, a third of which have been squirrelled away just in case the relationship ends. More than half of people say they’d be alarmed to discover their partner had a secret account. Yet it can make a great deal of sense if savings are built fairly and for the right reasons.”

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Ms Coles added: “If you don’t really have any reason for keeping the savings secret, now may be the time for an honest conversation, so you can make plans together with full knowledge. If you’re saving for emergencies, you don’t have to declare every penny, but there’s nothing to stop you explaining you have a small fund to cover the worst-case scenarios.

“The best solution will differ for each couple. In any case, there’s a fine line between sensible secret savings and something more worrying." Ms Coles continued, saying: "Whatever you reason for putting this money aside, if you’re putting it away at the expense of your partner and leaving them struggling with the weight of responsibility for the finances, it can cause all kinds of problems for your joint finances."

She said: "It means it’s worth thinking about what you’re saving for, how you’re doing it, and whether it’s a good idea.”

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