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A RUN ON THE PSS; One in 10 people has secret escape fund.


NEARLY one in 10 people in a relationship is hiding a secret escape fund from their partner - and men are more likely to have one, says a study.

Nine per cent of UK adults who are married or have been with a partner for more than a year hoard the cash so they can leave if they choose to, the Money Advice Service found.

The average escape fund holds PS7500. Of the 2000 people in relationships who were surveyed, 11 per cent of men admitted having a cash stash fund, while eight per cent of women said that they had one.

But only five per cent of couples in Scotland had an escape fund, while the highest proportion was the West Midlands, with 16 per cent.

By contrast, just three per cent of couples in Northern Ireland had an escape fund.

Of the married people who were surveyed, nearly 24 per cent said their partner would be "upset, angry or surprised" if the true state of their finances was revealed to them.

Many married people said they were keeping a stash because they wanted financial independence or were worried their partner would spend the money if they knew about it.

Nearly one fifth of people in the survey admitted they had hidden debts from their partner. Many people also said their partner's financial actions had damaged their own credit score.

Nick Hill, a money expert ick at Government-backed MAS, said: "It may be upsetting to find out your partner is hiding money from you, but finding out they are in significant debt could be much worse."


UP AND AW AY WAY W Cash stash

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Publication:Daily Record (Glasgow, Scotland)
Date:Feb 6, 2015
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