Financially single – and that's how they want to be

12 February 2007
Almost one in three singletons is determined to stay financially independent in their next relationship instead of committing to a joint bank account, Alliance & Leicester has revealed.

Although many are prepared to consider pooling their resources with their partner – 56 per cent said they would contemplate holding both separate and joint accounts – only three per cent said they would close their own account to share their finances with their loved one.

The survey also showed that financial trust is lacking in many relationships, with eight per cent of people unable to trust their partner enough to share their finances.

Notably, almost half of all women (47 per cent) were convinced they were better at managing their finances than their partner.

"It seems that money issues … remain an uncomfortable subject for many couples," commented Helen Palmer, current accounts manager at Alliance & Leicester.

Things must be worst for the 17 per cent of people who feared they would row about finances if they held a joint account – confirming the results of a recent CreditExpert study which showed that spending and borrowing patterns cause one in four couples to argue and one in twenty to split up.

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