New research by CreditExpert.co.uk shows that one in five Britons are keeping their money worries secret from their partners – up to £30bn worth of hidden debt.

And it’s not just undisclosed debt; 3.2 million of Britons currently in a relationship admit to having a ‘secret’ bank account that they keep from their other half.

Thirteen per cent do not own up to their current partner about the amount of credit or store cards they hold and 15% of British adults currently in a relationship keep information about their bonus or level of earnings from their partner.

Shame and embarrassment appear to be the main reasons for people holding back about financial matters with one in ten admitting they are ashamed of the state of their finances.

Darryl Bowman, director of CreditExpert.co.uk, says: “Couples should be honest about money, particularly if you are already financially linked and if you plan to have joint accounts in the future.”

If you are ashamed of your finances and don't know where to turn, talk to a broker. It might be hard talking to your partner, but talking to an impartial professional might make things a lot easier and a lot clearer. You also probably have less to worry about than you think – a good adviser will do all they can to source the best financial options for you, and your partner.

SOURCE: CreditExpert, 25/02/09

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