According to a recent survey on money and relationships, 36% of people are keeping a bank account from their partner. While this financial unfaithfulness may appear as distrust in a relationship, in truth it may just be a form of financial protection. With almost half of all marriages ending in divorce, men and women are realizing they need to be financiallysavvy, regardless of whether they are in a relationship. The financial hardship on individuals after a divorce can be extremely difficult, even more so when children are involved. The lack of permanency in relationships, job and family life may be the cause of a growing trend to keep a secret bank account hidden from a partner, in other words, an "escape fund". Margaret's story is far from unique. She is a representative of a growing number of women in long-term relationships who are becoming protective of their own earnings. Every month on pay day, she banks hundreds of dollars into a savings account she keeps from her husband. She has been doing this throughout their six-year marriage and has built a nest egg worth an incredible $100,000. Margaret says if her husband found about her secret savings he'd be hurt and would take this as a sign that she wasn't sure of the marriage. "He'd think it was my escape fund so that financially I could afford to get out of the relationship if it went wrong. I know you should approach marriage as being forever and I hope ours is, but you can never be sure." Like many of her fellow secret savers, Margaret was hurt in a former relationship and has since been very guarded about her own money. Coming clean to your partner about being a secret saver may not be all that bad. Taken Colleen for example, who had been saving secretly for a few years before she confessed to her partner. "I decided to open a savings account and start building a nest egg of my own. I wanted to prove to myself that I could put money in the bank and leave it there for a rainy day." |