Press release

BRITISH COUPLES STAY COOL ABOUT CASH

02 October 2009

Men leading the way in money chat, women more in control

New research from NS&I’s (National Savings and Investments) Quarterly Savings Survey reveals that couples are open about their finances. 81% of Britons say they never argue about money with their partner.

Of those that do disagree, over two-fifths (43%) say they are able to resolve any arguments by talking things through. The research also opposes gender stereotypes of women who like to talk and men taking more control. Nearly half of all men (47%) say they like to resolve arguments by talking to their partner, compared to just 37% of women. A quarter (25%) of women say they have control over all financial matters in their relationship, compared to just 16% of men. Men also appear more open to making joint financial decisions than women. 46% say they have a joint account with their partner and will share all their financial information, higher than the figure for women (40%). 

Couples seem to have a keen appreciation of their financial boundaries and are honest about their spending. Almost three-quarters (74%) say they never spend money from their joint account on personal things their partner would not approve of. Nearly nine out of ten (88%) people also say they have never borrowed money from family, friends or from a partner without repaying it. However, it seems not everyone adheres to these unwritten codes of behaviour.  Just over £50 (£51.54) is considered to be an acceptable amount to borrow from a partner without paying it back. This figure was higher among women, over £60 (£60.13), compared to £43.27 for men.

Many couples actually think they benefit financially from their partnership. Nearly a third (29%) of those in relationships say money brings them happiness. Further, it’s not just the money itself but the shared approach to managing it. 74% said it was having someone to talk freely to about financial concerns that they most valued. Almost three-quarters (71%) think other benefits to being in a relationship include being able to organise their finances together with someone and receive similar motivation, while 77% say being able to share financial knowledge. Only 8% of couples believe there aren’t any financial benefits to being in a relationship.

Dax Harkins, NS&I’s senior savings strategist said: “This Quarterly Savings Survey has revealed some interesting details of how people in relationships deal with money, busting the myths that money causes disagreements and people secretly spend their shared cash. And it seems that this is not just a result of people being more open because of the current financial climate. More than two thirds (69%) say this hasn’t affected their financial relationships, and only 8% think they have become more open with people they are close to. It seems money has been much maligned and British couples are actually better at dealing with financial issues than many thought.”

Gender differences also extend to saving targets and levels. The Quarterly Savings Survey highlights that women are setting themselves higher monthly savings targets than men, 16.06% compared to 15.07% for men. However it appears men are actually better at translating these savings aspirations into actual amounts, managing to save 7.15% of their income each month, compared to just 6.14% for women.

Findings of NS&I’s Quarterly Savings Survey tracker:

Although overall saving levels dipped this quarter, from spring 2009’s record savings levels, the longer-term still gives cause to be optimistic:

ENDS

Notes to editors

Savings tips and further information on personal finance are available at: www.youandyourmoney.info

Quarterly Savings Survey

For a copy of NS&I’s Quarterly Savings Survey, case studies or further information on the statistics supplied in this release please contact the NS&I media team. Previous copies of the survey are available from http://www.nsandi.com/press-room/savingsurvey/index.jsp. Selected regional data is also available on request.

Senior spokespeople are available for interview and high-resolution photographs can be supplied. Contact the media team to arrange an interview or request photographs by email. 

Lifestyle research (Financial relationships): A representative sample of 2003 GB adults aged 16+ was interviewed. Conducted by TNS

Interviewing was conducted by CATI from 17 - 26 July 2009. 

Savings tracker research: The telephone survey, was carried out by TNS among 3008 GB adults aged 16 and above, between 5 June and 2 August 2009. The research was conducted via TNS PhoneBus, a telephone omnibus survey.

About NS&I

NS&I is one of the UK’s largest savings provider with almost 27 million customers and over £96 billion invested. It is best known for Premium Bonds, but also offers Inflation-Beating Savings, Guaranteed Equity Bonds and Children’s Bonus Bonds in its range.  All products offer 100% security, because NS&I is backed by HM Treasury.

NS&I products are available over the telephone, internet, post and by standing order.  They are also available through a network of Post Office® branches.  Customers can also pick up NS&I brochures at retailer WHSmith in over 400 of its High Street stores.

Media team
NS&I has a number of spokespeople available for interviews and our experienced radio team is available via our ISDN line: 020 7602 4522.

The numbers below are for media use only. Customers wishing to contact NS&I can find details here.

Back to top

• Back to media releases
• Contact the NS&I media team