A new survey by prize-linked savings platform, AJ Bell and pollsters Opinium have revealed some disturbing trends in the UK’s relationships—namely, secret spending. UMTRI’s study included a survey of 4,000 adults. It found that more than 1 in 2 people surveyed confessed to buying things without informing their significant other. Uniforms and clothing items ranked highest on the list of stealth costs. Secret clothing purchases were 20% of men and 35% of women.
The fiscal consequences of this treatment are considerable. On average men have spent largely on undisclosed these past year £2,545 items. In the process, women have hidden nearly £1,769 from the taxman. There’s no debating the fact that the younger generation exhibits this behavior at a higher frequency. Indeed, people within Gen Z said they spent on average £4,303 under the radar. In comparison, people aged 55 and older revealed an average of just £384 spent behind their partner’s back.
Almost one in five men (19%) admitted to making illicit purchases of vice-related goods. These are similar to cigarettes and alcohol. Further undisclosed spending was found on beauty products, online gambling and cryptocurrencies, prompting fears of a lack of openness about money within relationships.
Laura Suter, head of personal finance at AJ Bell, said the impact of such hidden expenditure could be “huge.” She cautioned that it could take an innocuous form. If true, that might just expose more concerning problems regarding how couples agree to handle their finances as a team.
“Secret spending is likely to be one of the quickest routes to financial friction in a couple,” – Laura Suter
Suter continued on explaining that not fully communicating, especially when it comes to major acquisitions, makes it difficult to budget annually and plan long-term financially. She noted that it becomes “difficult to budget properly or plan for longer-term goals like buying a home, building an emergency pot or saving for retirement.”
This shocking announcement leads to an important conversation about monetary honesty within partnerships. While minor purchases may not necessitate disclosure, such as routine coffee buys or personal grooming expenses, significant costs and recurring habits should be openly discussed to avoid misunderstandings.
AJ Bell’s survey results should act as a wake-up call for couples to assess how effectively they’re discussing money matters. As secret costs rise, so does the need to foster trust and transparency — the lifeblood of any long-term financial relationship.