For richer, for poorer? Half of us don’t know what our spouse earns
MARRIED couples may have agreed to share their lives – but it seems they are a bit more reluctant to share their bank statements.
A survey has found that almost half of married people do not know what their spouse earns.
And a secretive further third only divulge details of their finances to their partner on a ‘need to know’ basis.
Just 56 per cent said they knew exactly what their partner’s salary was, according to a study of 2,000 people.
It found that women were more likely to keep tabs on what their partner earned, with 60 per cent saying they knew their spouse’s salary, compared to 52 per cent of men.
The survey also revealed that many couples shy away from conversations about their finances ahead of major milestones – including moving in together, getting engaged and even having a child.
The poll found that less than two-thirds discussed their finances before they moved in together, falling to exactly half of those getting married, while only four in ten couples had a chat about money when they found out they were expecting a baby.
Perhaps a little optimistically, a quarter do not think their partner has any debts, despite the average UK household owing close to £ 10,000 in personal loans, credit cards and overdrafts.
The study, by credit rating agency Noddle, also asked about finances at the beginning of a relationship, finding that more than a quarter of single men and women said that they would break up with a new partner if they found out they were in a lot of debt.
Jacqueline Dewey, of Noddle, said: ‘Our research shows that as a nation we still shy away from talking about money, even with our spouse or partner.
‘Whilst it may seem tempting to keep this information to yourself, it can have a det- rimental impact on your financial decisions and, ultimately, your relationship.
‘Knowing about your financial health – and that of anyone you are financially involved with – is crucial whether you’re applying for a credit card, getting a mortgage or looking for the best deals on utilities or mobile phones.
‘That’s why we’re calling for consumers to have full financial disclosure with their other halves.’