26% of adults in long-term relationships manage finances separately

More than a quarter of UK adults in long-term relationships (26%) have reported that despite living together, they keep their finances separate from one another.

A recent survey was completed by Legal and General (L&G) whereby 3,000 UK adults in relationships were asked about their financial circumstances.

The research showed that 86% felt they had a healthy approach to discussing finances with their partner, with almost a fifth (18%) said they frequently argued about it, and 17% said they would completely avoid the conversation of money with their partner.

Out of those asked, 78% said they had a “good understanding” of their other half’s income, savings 78%, and monthly outgoings (75%).

Almost a quarter said they weren’t sure about any unsecured debt their partner may have (24%), their pension (36%), or any investments (25%).

Source: Legal and General / Cover Magazine

Recent posts

Mortgages In School   Web Larger

A welcome change in school is coming as financial literacy is due to become compulsory in schools in England.

The Government has announced that as part of the new national curriculum, children in primary and secondary education will be required to learn about budgeting, compound interest, managing money, and mortgages.

Cotswolds   Web Larger

Forbes has published a global ranking of stunning locations and one popular picturesque corner of the UK has nabbed top spot.

Budget Then And Now   Web Larger

Over three years after the Mini-Budget took place, we look at what the mortgage market looks like now, showing the difference in mortgage repayments.

Home buying shake up web larger

The government has announced plans to make buying or selling a home cheaper and quicker with what is being called the “biggest shake-up to the homebuying system in this country’s history.”

More borrowers ER web larger

Almost one in five equity release mortgages are now taken out to provide financial support to family.

Buyers purchasing sooner web larger

According to industry data, the expected wait for those looking to buy a property has dropped from just over 11 months to less than six months.

First payment higher web larger

It is common for your first mortgage payment to be higher than your subsequent monthly payments for two reasons.

Change locks web larger

Firstly, a big congratulations, you’ve now exchanged contracts! After weeks and months of waiting, you are about to move in. What should you do first?