One in five people refuse to tell anyone, including their partner, how much they earn, according to a survey by NatWest Premier, the bank’s financial planning arm.
Less than a third of parents share how much they earn with their children, it reports. But secretive couples should be open about their money to avoid later strain on the relationship, the bank warns.
Those on a higher salary are more ready to talk about their income. Just one in ten workers earning more than £100,000 a year keep their salary a secret.
Younger generations are more likely to reveal their finances, as just 14 per cent of 18- to 24-year-olds will not share their salary with anyone.
However, 25 per cent of 45- to 54-year-olds keep their earnings a secret, as do 19 per cent of 35- to 44-year-olds.
Secretive: Couples should be open about their money to avoid later strain on the relationship
Laura Newman, head of NatWest Premier Financial Planning, says: ‘A lack of transparency around money, even in committed relationships, can often lead to issues later.It’s important that you work together – with your lifetime partner and banking partner – to plan finances.’
Ms Newman says you should arrange a time to speak with your partner in advance so they don’t feel blindsided.
