UK Couples Stash GBP 2.1bn in 'Secret Savings' as Couples Save Solo
- 2.6 million secret savers in the UK hoard an average pot worth GBP 823.48 - The typical secret saver keeps between a quarter and a third of their savings hidden - The total secret savings stash in the UK is worth GBP 2.1 billion - Young couples now keep 80% of their savings in sole savings accounts - The average UK couple now keeps 63% of their savings and investments in sole accounts
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwired) -- 08/02/13 -- In the UK, we are seeing the emergence of a new generation of 'secret savers' as the average UK couple now keeps 63% of their savings and investments in sole accounts, according to the Family Savings Report.
The report highlights a long-term shift to greater independence in couples' finances.
Many couples would only expect to be notified about spending when their partner spends over a certain amount, with an average of GBP 183 spending limit for and GBP 395 for a partner's own savings. Couples in the North West also have the tightest reign on each others' access to shared savings, with an average of GBP 79 before the partner expects to be notified. This compares to GBP 297 in the South East, who allow their partners a considerably bigger spend before expecting to be consulted.
The research shows that 12% of people in the UK keep some of their savings secret from their partner, while 6% of people keep some income secret from their partner. The research highlights that the highest amount of secret savings is in Northern Ireland (19%), and the West Midlands (15%), compared to the lowest amount of secret savings in the North East (4%) and the South East (9%).
The research also suggests that the typical secret saver keeps between a quarter and a third of their savings secret from their partner, averaging 28% of their savings.
The reason behind secret savings
The most common motivation for couples keeping secret savings was because they felt the partner would spend the money if they knew (18%). The second most common was keeping the money for emergencies or 'rainy days' (14%). Others believed money should not be discussed or it 'is not the partners' business' (12%), while some simply suggest that it is their own money or are independent from their partner (8%).
Andy Bickers, Director of Savings at Lloyds TSB, comments:
"With nearing two thirds of UK couples and four in five young couples now keeping their savings in sole accounts, we are starting to see a long-term shift towards people wanting to remain in financial control. Putting aside money remains a positive step for all and tax free and get more for your money."
Contacts:
Lloyds TSB
0800 096 9779
25 Gresham Street, London EC2V 7HN
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Datum: 02.08.2013 - 13:13 Uhr
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News-ID 284323
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