New research shows we’re a nation of romantics
Ahead of Valentine’s Day 2017, it is clear that Brits are more than willing to open their wallets too in the pursuit of love, with £987m expected to be spent on gifts and cards for the most romantic day of the year.
As much as Brits are happy to open these wallets, it appears that they are also incredibly open, trusting and honest with their partners regarding their financial health. Research from Fidor Bank, a digital-only challenger bank, of 2,000 UK adults in a serious relationship, found:
- 77 per cent of adults share all their financial secrets with their partner within 12 months of being in a relationship
- By the two year mark 84 per cent have revealed all to their partner, yet 15 per cent never ever fully open up about their finances to their other half
- Six months into a relationship is when Brits are most likely to share their financial situation, with 24 per cent admitting to revealing everything that month, followed by 12 months in, with 17.75 per cent telling all
- Despite this level of trust over a short period of time, only a slender majority (51.25 per cent) of couples actually admit to sharing a joint savings account (48.75 per cent don’t)
Britain’s Financial Fibbers
Meanwhile, of Britain’s financial fibbers, they are most likely to lie to their parents (at 26 per cent) and friends (25 per cent) than their partners (22 per cent). Also, women (at 25 per cent) tend to tell more financial fibs than men (at 20 per cent), with both citing embarrassment, followed by fear of starting an argument, as the main reasons for not telling the truth to their partners.
Overall, Brits are most likely to search online when looking for financial advice (47 per cent), followed by their bank (35 per cent) or their financial adviser (31 per cent).