Noddle has found that couples are not forthcoming with each other when it comes to their financial situation. Even couples who are married or who have been together a while are still tight lipped about their monetary position.
Do you talk to your partner about money?
More than half of Brits don't know if their partner is in debt or not and if they are they don't know by how much.
The average household has debts of around 10,000 from personal loans, credit cards and overdrafts so there could be some big secrets waiting in the wings.
It was also discovered that 1.9 million married couples try to hide their spending habits from their partner in the hope they won't find a stray statement lying around to blow their cover.
Apparently the attitude of many British couples is money is on 'a need to know basis'.
Furthermore, 44% don't know what their partner earns because they don't feel it's their business to know.
Worryingly, money is not even discussed at major milestones either such as moving in together, getting engaged or married.
Commenting on the findings, Jacqueline Dewey, Managing Director, 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 detrimental 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 etc. That's why we're calling for consumers to have full financial disclosure (FFD) with their other halves."
Despite 16-24 year olds being the most likely than any other age group to tell their partner what they earn, it takes until 55 or over for couples to feel they can fully disclose their finances to one another.
Singles are getting more cautious and want to know about a bad credit rating before getting serous with someone. 29% would go as far as to break up with a person after finding out that they were in a lot of debt.
Is honesty the best policy when it comes to joining your finances? What do you think?
tagged in Partner