Single Brits relish financial freedom
Published On 12 February 2007
Single Brits love their financial freedom more than ever before with a new survey showing many plan to keep their finances independent in their next relationship.A study by Alliance & Leicester discovered that 31 per cent of singletons plan to remain steadfastly financially independent when they enter their next relationship and thus have no plans to open a joint account.
Helen Palmer, current account manager at the group, explained some of the reasons behind this new trend for savvy and satisfied financial singletons.
She said: "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.
"There are benefits of having both independent and joint accounts. It's always worth couples shopping around to make sure the account they opt for matches today's competitive deals. Far too many people - both singles and couples - have stayed wed to the same bank for far too long."
According to the survey, only three per cent of single people would specifically opt to close their personal account and pursue a joint account with their future partner.
A gender divide was also apparent too with women seeming particularly dedicated to the notion of financial independence in a relationship. Almost half (42 per cent) of women who were in a relationship said financial independence was important to them, which compared to just 24 per cent of men.
