Discovering Hidden Finances: Questions to Unveil Secret Stashes – Comparing Your Relationship Money Habits to Others

Discovering Hidden Finances: Questions to Unveil Secret Stashes – Comparing Your Relationship Money Habits to Others

In the Suited, Stitched, and Hidden: A Peek into Spousal Finances

Every couple dreams of understanding their partner's life like the back of their hand—their wins, their losses, their habits, and their finances. But how truthful are we when discussing our financial deets, and how much do we really know?

Insurance giant Aviva polled 2,000 couples in relationships, marriages, or civil partnerships to discover their financial intimacy levels. Take our quiz and see if your partner's money habits reflect the norm, or if it's time to pop some questions. Or better yet, do it together!

How Secretive is Your Rainy-Day Stash?- a. Zero- b. One- c. Two- d. Three to four- e. Five or more

Most common answer: Nearly 53% wouldn't dare keep a secret financial account, but 14% keep two, with 26.1% stuck to their guns with one secret account. If you answered "zero," you're in the majority.

How Much Hideaway Hankerings?- a. £500 or less- b. £501 to £1,000- c. £1,001 to £2,000- d. £2,001 to £3,000- e. £3,001 or more

Almost one in three savers are shrouding anywhere between £501 and £1,000, while almost 27% have stashed away £1,001 to £2,000. Just 7% are hiding less than £500.

Purpose of Petty Pots?(Select up to five answers)- a. To pay for debt, credit or store cards- b. Save for children's future- c. Retain financial control- d. Treat myself/shop in secret- e. Plan a surprise gift- f. Safety in case of love's demise- g. Avoid feeling trapped- h. Leisure travel- i. Aid family/friends- j. No specific reason

People mainly seek control (31%) or travel funds (27%) with their secret rainy-day accounts, while 27% strive to steer clear of feeling trapped.

Financial Intimacy Levels- a. I know everything about my partner's finances- b. I have some idea, but I don't believe they're hiding anything- c. I have some ideas, but feel they have money I don't know about- d. I have no idea about my partner's finances

Most common answer: More than 75% believe they know either everything or most of their partner's financial dealings, whereas 47% are hiding secret savings from their spouses.

Talk Money or Save Your Voice?- a. Every day- b. Two to six days a week- c. Once every one to three weeks- d. Once a month- e. Once every two to 11 months- f. Once a year- g. Never

Most common answer: More than 8% chat about money every day, while 18% discuss finances just once a month. A whopping 5% never discuss money. On average, couples talk about money around seven times a month.

Financial Conflicts

• a. Every day
• b. Two to six days a week
• c. Once every one to three weeks
• d. Once a month
• e. Once every two to 11 months
• f. Once a year
• g. Never

Most common answer: Whilst the most popular answer was "never," couples still experience financial squabbles, whether that's once a year or a few times a month. Apparently, couples argue 5.4 times a month, on average, over money matters.

Common Arguments(Select up to five answers)- a. Income differences- b. Contribution to household bills, holidays, etc.- c. Tight with money- d. Secret accounts- e. Planning for the future- f. Who has spent the most in a given month- g. Credit card usage- h. Spending too much/excessive- i. Nothing triggers arguments- j. Who pays for what- k. Too much debt

Most common answer: Nearly a third of partners think their spouse spends too much, while 21% believe they don't spend enough.

Joint Accounts- a. Savings account- b. Credit card- c. Current account- d. Investment accounts- e. None

Most common answer: Most couples share a joint current account (54%), while 44% maintain a joint savings account. Almost 14% have no shared accounts.

Individual Accounts- a. Zero- b. One- c. Two- d. Three to four- e. Five or more

Most common answer: People are generally more likely to hide two individual accounts (36%), while 29% prefer one. Around 8% have no individual accounts at all.

Financial Red Flags(Select up to five answers)- a. Late bill payments/unpaid bills- b. No savings- c. Expensive cars- d. Frequent borrowing- e. Financial secretiveness- f. Boasting about money- g. Gambling problems- h. Control issues in finances- i. Poor credit history- j. Tight with money- k. Excessive debt- l. Lots of designer items- m. No pension- n. No specific red flags

Most common answer: A gambling problem and excessive debt were at the top of the financial red flags list (71%), while 45% considered financial secretiveness unacceptable.

The Power of TransparencyBy VICKY REYNAL, money psychotherapist

Now that you've tested your money knowledge with our quiz and your partner, discover how you stack up against other couples. You may have uncovered untouched areas of your partner's finances or addressed uncomfortable subjects.

Take this opportunity to dive deeper into money discussions. Perhaps schedule a regularly scheduled coffee date where you can discuss spending, saving, and financial worries together.

Open communication builds understanding and trust, leading to wealthier and stronger relationships.

Money matters: Vicky Reynal explains why healthy money conversation is crucial for relationship success. Hiding secrets has heavy repercussions for your mental and emotional health, as well as your relationship.

Curious about the psychology behind financial secretiveness and its consequences? Read on.

[References, related articles, privacy policy, and enrichment data omitted for brevity]

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1. With nearly 53% not hiding any secret financial accounts and a third of savers shrouding between £501 and £2,000, it seems the average couple's rainy-day stash varies, according to a poll by Aviva.
2. The study also revealed that people mainly maintain their secret accounts for control or travel funds, while one in four partners is hiding secret savings from their spouse.
3. In the Suited, Stitched, and Hidden report, it was found that most couples share a joint current account and a joint savings account, yet people are more likely to hide two individual accounts, acknowledging they feel they have money their partner doesn't know about.
4. Joint accounts, regular money discussions, open communication, and shared financial goals are essential elements in maintaining strong personal-finance relationships and improving the overall health of the relationship, as suggested by Vicky Reynal, a money psychotherapist.
5. According to Reynal, hiding financial secrets can have a substantial impact on one's mental and emotional health, and barriers in financial transparency can be detrimental to a relationship's longevity and success.
6. Bad credit history, gambling problems, excessive debt, and frequently borrowing were identified as financial red flags, with financial secretiveness and boasting about money being major concerns for many couples.

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