Financial independence is most popular, says Alliance & Leicester

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Financial independence is most popular, says Alliance & Leicester

Almost a third of single people in the UK are planning on keeping their finances solely their own concern when embarking on their next relationship, Alliance & Leicester has found.

Financial independence has been citied by 31 per cent as their preferred strategy when they begin a new relationship which means ruling out the prospect of a joint account.

The emphasis on financial autonomy is widespread, with Alliance & Leicester discovering that just three per cent would look into closing their bank account and replacing it with a joint account.

Helen Palmer, current accounts manager at Alliance & Leicester, stated: "It is no surprise to see that many people wish to maintain their financial independence. It seems that money issues, whether discussing them or sharing them, remain an uncomfortable subject for many couples."

Ms Palmer continued by stating that couples should always shop around before settling for a joint account and she added that loyalty to a bank is sometimes unwarranted as better deals could be available elsewhere.

As far as the difference in frugality in terms of the sexes is concerned, nearly half of women (47 per cent) feel they are more financially astute than their partner while 23 per cent believe this to be the case.

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