Survey finds almost half of couples view joint bank accounts as outdated amid rising financial secrecy

Nearly half of couples in long-term relationships view joint bank accounts as outdated, old-fashioned, or even sexist, according to new research by wealth manager Moneyfarm. The survey found 44% think joint accounts are outdated, while about 30% refuse to have one altogether.

Reasons for snubbing a shared account include spendthrift partners (20%), a desire for financial independence (32%), and the sense that how money is spent is no concern to the partner (29%). Thirteen percent said their partner has a terrible credit rating or too much debt to share an account.

An underlying motivation for secrecy is that some couples want to guard money. Eleven percent don't want their partner to know how much money they have, and almost half report a secret savings account, averaging £19,800. Chris Rudden, head of investment consultants at Moneyfarm, said: 'It's interesting that so many couples are turning away from joint bank accounts which were once seen as a symbol of unity and trust. While financial independence is empowering, it's crucial that this shift isn't driven by secrecy or mistrust. Choosing not to share finances should be a conscious decision rooted in mutual respect and transparency, not a way to hide spending habits or income. Financial secrecy is a red flag that undermines trust and can be deeply damaging to relationships. Transparency builds the foundation for long-term financial wellbeing, helping couples work together toward financial stability and ultimately achieve their life goals.'

Moneyfarm found two in five of those surveyed admit they have made a financial decision without consulting their other half – and one in ten regularly hide receipts from their partner to disguise their spending habits.

And the secrets don't stop there. As many as 15 percent of Brits tell their other half they earn less than they do in order to have more disposable income for shopping sprees. One in four go as far as to hide a pay rise so they can keep the extra cash for themselves.

The findings come amid a broader shift in which households increasingly seek financial autonomy, supported by fintech tools and independent income streams. While independence can empower individuals, researchers caution that secrecy can erode trust and complicate shared financial goals if not approached transparently.

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Experts say the trend could influence how couples budget, plan for major purchases, and pursue long-term goals such as home ownership or retirement if mutual transparency is not maintained. For many, the challenge will be balancing personal financial autonomy with the practical needs of joint life planning, including debt management, risk sharing, and prioritizing shared objectives.

The study underscores a broader evolution in money management within intimate relationships, signaling that the traditional model of a single joint account may no longer fit every couple. As households adapt to new financial realities, open conversation about financial boundaries, expectations, and trust may become a more critical component of relationship health.