Londoners most distrustful about money

Ryan Bembridge

May 30, 2017

People in London are the most distrustful about money out of the whole of the UK, Co-op research has found.

Two fifths (44%) of Londoners admit to hiding their income from their partners, compared to just 8% in Yorkshire.

And if they got a divorce over half (53%) in the capital would hide their assets, compared to less than a third (31%) for the UK overall.

Tracey Moloney, head of family law for the Co-op, said: “It may come as a shock to see that a large percentage of those in the UK would be willing to hide assets from their partner when going through a divorce.

“Divorce is such a personal and unique decision between two parties and it’s important that both parties are willing to talk openly and honestly about finances.

“In my experience, this makes for a more amicable divorce and avoids the situation turning hostile later down the line.’’

High earners with over £150,000 of annual income are most likely to hide their wealth, with 87% saying they’d willingly hide their assets from their partner if there was a divorce.

UK adults are most likely to develop a secret spending habit between 30 and 34, with two fifths (42%) admitting to hiding their expenses from their partners.

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