Adults not honest with their partners over money

by | Jun 20, 2017

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A new study shows that almost 25% of British adults have money tucked away that their partner knows absolutely nothing about.

The survey was conducted – honestly, I’m not quite sure why – by a car hire company called Auto Europe.

And bear in mind that the number of people questioned was just 1,500, so I guess this is what they call qualitative, rather than quantitative (watch these words in a presentation, they can be tricky!).

Anyway, of the 1,500 questioned, just over 40% said that they have a secret pot of cash because they like being financially independent and 23% said they are keeping it from their other half as they are terrible with money.

Does this chime with advisers? Do you sit down with clients who say, look, don’t tell the Mrs/hubby/them about this – it’s my little secret?

As to why they are spinning a tale, 27% are squirreling away money for a sun soaked holiday, with 38% of those looking for a break in Europe (maybe before Brexit makes that impossible) and a further 30% saving for a tropical holiday in a far-flung destination – without their partner (how do they intend to get away with that?).

And, 19% have their eye on a new car and 20% are saving for new clothes and designer items. Er, perhaps not one mentioned using their illicit hoard to go and hire a car (oh well, better luck next time).

However, a more careful 23% are saving on the quiet in case their relationship one day breaks down and they need cash for an ‘exit strategy.’ Is that sensible, or cynical, I’m not sure?

And, an interesting fact to finish with, the poll revealed the average adult felt they would need a “staggering” £22,748 as a buffer if their relationship fell apart.

So there we are. I’ll leave the last comment to a spokesperson from Auto Europe: “As a company that helps people to save money on car hire, we understand how important it is for everybody to have a saving aspiration.”

Ah, that’s the reason for the survey. Save some dosh, don’t tell your partner and spend what you’ve saved on cost efficient car hire, or maybe upgrade to next model! Exciting.

Back to the spokesperson: “Our research suggests that men and women in relationships show a determined effort to save for well-earned indulgences on their own. From holidays to far-flung destinations without their partners to mini-breaks with friends, it seems that time away from their relationships is key to feeling a sense of freedom while remaining financially independent from one another.”

Well, I think we’ve all learned something today and for that, we are better people. Time for a coffee I think.

 

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