Couples prefer to stay financially independent, says Tesco Bank

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Couples prefer to stay financially independent, says Tesco Bank

Tue 4th May 2010

New research from Tesco Bank has revealed that a large proportion of couples prefer not to share financial commitments such as bank accounts and insurance.

A survey conducted by the supermarket bank revealed that 29 per cent of couples prefer to remain financially independent from one another, while a majority of those with a joint account opt against pooling all of their resources.

It was also found that those in relationships are more likely to be willing to share a savings account than a credit card or life insurance policy.

A spokesperson for Tesco Bank said: "Despite sharing so many elements of our life when in a relationship, most of us still try to retain a modicum of financial independence."

However, Tesco also reminded consumers that joint accounts can bring some advantages, including easier management of family expenses such as bills and mortgages.

This comes after the bank published research in March suggesting that younger couples are more willing to talk about the state of their finances than older generations, although discussing life insurance remains a taboo.

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