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Brits hide money from partners

Millions of people across the UK have savings, investments, debts and income that they choose to keep hidden from their partners, according to new research from Prudential.

The survey, which examined attitudes to financial planning among co-habiting couples over the age of 40, found that around 20% of respondents have debts that they have not disclosed to their partners. The average value of these hidden outstanding debts is £9,546.

Around 14% of those surveyed also say they have private nest eggs of savings and/or investments, worth an average of £2,004, kept secret from their other halves.

Among those who admit to having a secret nest egg, 22% say these savings and investments are kept hidden to offer them financial security in case of a break-up. A fifth say their secret savings are there to cover the cost of items they wish to buy for themselves and 13%are saving for something specific like a car or dream holiday.

Around 8% of secret savers say they keep these funds hidden, simply because they don’t trust their other halves’ financial decision making.

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