Nearly a Third of British Couples Keep Financial Secrets From Their Partner, as Number of Revolut Joint Accounts Doubles

New research from Revolut, the global financial app with over 50 million customers worldwide and 10 million in the UK, has revealed that almost 30% of British couples withhold some, or all, of their financial information from their partner.

The study of over 1,000 consumers across the UK, sought to understand how financially compatible British couples are and how comfortable they are when it comes to talking about finances.

Despite 70% feeling comfortable openly discussing all aspects of their financial situation with their partner, and feel it contributes to a healthy relationship, tensions are still present for nearly a third of couples, who aren’t able to fully open up about money yet. Revolut found that 27% of couples either argue with their partner about money, or avoid the topic completely.

Josh Moloney, Head of Joint Accounts at Revolut, commented: “There’s no one-size-fits-all approach to managing finances as a couple, but most people value honesty and transparency in money matters. However, our study reveals that many couples still avoid financial discussions altogether. Providing them with the right tools to navigate these conversations is essential.”

“Joint accounts can be a valuable starting point for discussing financial goals, spending habits, and long-term planning. They offer couples flexibility in managing their money together while easing some of the discomfort that often comes with financial discussions.”

Do life together with Revolut’s joint accounts

Use of Revolut’s joint accounts more than doubled globally in 2024, and in the UK, as more customers strived towards better financial transparency with their partners. This comes as Revolut launches a special edition virtual Valentine’s Day card for joint account holders.

Revolut’s joint account holders tended to be younger, with couples 25-35 representing 33% of this group, while 15% were 35-44 year olds. “Groceries,” “Restaurants,” and “Shopping” made up the majority of British couples’ joint spending, suggesting that doing the weekly food shop or splitting the bill after a date is common among joint account holders.

Revolut’s tips to boost financial transparency

Have regular money check-ins

Schedule monthly or quarterly check-ins with your partner to discuss your budget, savings and financial goals. Consistent communication keeps both partners aligned.

Create a shared budget or joint account

Work together on a budget that reflects both your outcomes and expenses. They are not for everyone, but you could consider a joint account to manage shared costs and keep things organised and equitable.

Discuss the role of money in your relationship

Beyond the numbers, talk about how you both view money. What does financial security mean to you? Are there any financial habits from childhood that affect your approach to money now? Understanding these differences early can help reduce tension down the line.

Be transparent about big financial decisions

For large expenses, like purchasing a car, taking out a loan or making an investment, always consult your partner before making any irreversible decisions. These major decisions should be mutual to avoid one partner feeling burdened.

Share your financial strengths and weaknesses

Be open about areas where you may need support or improvement. Maybe one partner is great at saving, but the other is better at investing. Understanding each other’s strengths will help you work together more effectively to achieve your financial goals.