1 in 3 Brits hiding money from partners as financial anxiety hits relationships

Rising financial anxiety is among the many factors that are helping to erode trust between partners and families across the UK, according to new research from Handelsbanken Wealth, with nearly a third (29%) of people admitting they keep money hidden from their significant other.

Handelsbanken Wealth’s fourth annual Wealth Survey, A recession in trust?, highlights how a growing sense of apprehension is not only affecting how people manage their money, but also how they relate to those closest to them.

Key findings:

• 29% of Britons have ‘secret stashes’, rising to one in three for British men
• Only a third of parents trust their children to care for them when needed
• Women hold significantly less wealth than men (£142,000 vs £225,000)
• Financial confidence has declined across pensions, investments, mortgages and borrowing
• The use of AI for financial advice has nearly doubled year-on-year

Growing financial anxiety

Comparing this year’s findings with those of the 2025 Wealth Survey, it’s clear that financial anxiety and apprehension is growing across the board. Britons are significantly more apprehensive when it comes to making their own financial decisions about investments (33% vs 26%), pensions (26% vs 19%), mortgages (21% vs 15%), and personal loans (20% vs 13%) than they were this time last year.

Despite double-digit returns from stock markets, a major decline in UK inflation, and a series of interest-rate cuts since the last survey, a second cost-of-living crisis remains the dominant concern (72%), closely followed by energy price worries (71%) and fear of inflation (71%). Meanwhile, concern about geopolitical instability has risen sharply to 56%, making it the fastest-growing UK financial worry.

Younger and middle-aged groups are feeling the pressure most. Around half of those aged 35–54 (50%) and 18-34 (47%) are worried their standard of living will decline, compared to 37% of those aged over 55.

Trust at breaking point

Financial anxiety is increasingly influencing personal relationships, with trust between partners and across generations showing signs of strain.

Only 1/3 of parents trust that their children would take care of them when they need it, even if they had gifted them money! Just half (53%) think their children would spend any inherited money wisely.

Similarly, a quarter of Brits worry about potential financial conflicts arising from gifting decisions. More than one in five (21%) are afraid of losing family wealth should they gift money. This is exacerbated among those with more than £100,00 in assets; 32% of this cohort worry their money will leave the family upon gifting. 

In fact, 26% of respondents are worried about the impact of family disputes on personal finances, even when they’re not considering gifting! 

As well as intergenerational distrust, there’s also a lack of trust between partners. The study found that as many as 29% of Brits are keeping assets secret from their significant other. Men are most active in this regard: one in three admits to hiding assets from their partners.

Among those squireling away their wealth, the average value of such covert assets is an eye-watering £35,653. Men are hiding more (£40,070) than women (£30,066). Most commonly, nearly a fifth of Britons have a secret current account (18%) or savings account (17%), while others have secret investments (8%) or cash savings (7%) hidden around their homes!

At the same time, concern about scams and fraud continues to grow. This now afflicts over half (52%) of respondents, a 5% increase on last year.

Insufficient safety nets

Despite the increased uncertainty, many in the UK are unprepared for challenging times. 

While some have taken steps to build resilience, such as rainy-day funds (42%), retirement savings (38%) and emergency funds (37%), a fifth of Brits have no financial safety net at all. This rises sharply among the unemployed, with 43% lacking any form of financial buffer.

British women are especially at risk, with almost a quarter of women (24%) not having a safety net, compared to only 16% of men.

Even among those with emergency savings, expectations may not match reality. On average, respondents believe their funds would last 18 months, yet 11% say their savings wouldn’t cover even one month of expenses. 

Gender divide widens

The research also highlights a persistent and widening gender wealth gap, alongside a clear divide in financial confidence.

Women hold an average of £142,000 in financial assets compared to £225,000 for men, marking a significant disparity. This is reflected in confidence levels, with women consistently less comfortable making financial decisions independently.

Women are 9% more likely than men to feel uncertain about pension decisions and 12% more likely to lack confidence in making investment choices. They’re also more concerned about external risks to their financial situation.

AI to the rescue?

As financial confidence declines, some are turning to technology for support. Artificial Intelligence (AI) is increasingly being used for financial advice – almost doubling from 5% to 9% since 2025. 

However, trust in AI remains mixed. Almost half (48%) are still uneasy about using AI for investment decisions, and 45% would be concerned about using it for financial advice. 

Stephen Cowling, Head of Wealth Management at Handelsbanken Wealth said:

“Although this year’s research highlights a shocking lack of trust in several key areas of our lives, our findings will come as no surprise to a financial adviser. We tend to hear a lot of family secrets when working with clients,” he confides. “Often it’s the ‘embarrassment factor’ that plays a big role,” says Stephen. 

“Some couples are able to share everything. They’re the ones who have the most financial resilience, the most savings and the biggest pension pots. Among the third of couples hiding assets, embarrassment over hidden debts and other financial tangles is often part of the equation. 

“Unfortunately, hiding assets from our loved ones has become so much easier in our digital age,” he laments, “once you had to traipse to the bank and wait for letters to drop on your doormat. Now you can move all kinds of assets on your phone, and your partner is none the wiser.

“Meanwhile, we have a younger generation whose livelihoods are under threat both from AI and from today’s ‘pensioners’, who are compelled to stay in the workforce, and whose social-media feeds are constantly updating them on the latest global crisis in a new age of geopolitical risks.

“While highlighting that women remain disenfranchised when it comes to our finances, our survey also highlights that – despite the pressures of today’s media – many families are still opting for the traditional route with one main breadwinner, and one primary caregiver and homemaker. In many households, it’s the former who bears the responsibility for building up savings and pensions.

“Any good partnership – whether it’s a marriage or an adviser relationship – comes down to balancing out different strengths and weaknesses. That’s why we all need partnerships of one kind or another,” Stephen opines. 

“One of the most useful things we do as advisers is to apply modern cashflow modelling to our clients’ financial ambitions. This shows them how much something costs today – if they want to enjoy it tomorrow. It can be a serious reality check for clients who haven’t previously worked with adviser!

“Most of us tend to have very vague plans for our retirement and later life. Bringing transparency and clarity to what our clients want to achieve goes a long way to building their financial confidence and trust levels,” he says. 

Handelsbanken Wealth offers financial learning resources for interested parties through its Learning Zone.