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Survey reveals cash adultery of secret savings

Personal finance website The Motley Fool claims that many couples are engaged in “financial adultery”.

In a survey of 1,610 of the website’s users, nine out of 10 say their partners know how much they earn and three out of five couples say they have joint bank accounts.

But The Motley Fool also finds that one in 18 people has a hidden bank account and more than a fifth has secret “lifeboat” funds.

Head of personal finance David Kuo says he believes this is linked to the rising divorce rate and is effectively “financial adultery”.

Kuo says: “Talking openly about money is not easy, especially in a society where people are happier to brag about how much they owe on their credit cards than disclose their take-home pay.

“Today’s couples face a host of challenges but just because they do not share their satin bedsheets with people other than their partner does not mean they should not share their financial spreadsheets with each other.”

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