21 Million Money S£CR£TS Hidden From Loved Ones

Published / Last Updated on 11/11/2020

According to a new study from the Money and Pensions Service (MaPS) to mark Talk Money Week, at least 21 million financial products are being kept a secret by people from their loved ones.

A survey of over 5,200 people across the UK was launched to mark the start of Talk Money Week (9-13 November 2020) and run by MaPS to raise public awareness and to encourage people to talk about their finances from pocket money through to pensions.

The survey revealed:

  • People are most likely to keep secrets form their partner regards to money.
  • 38% of UK people stay silent about their money worries with some saying they are embarrassed and fear of being judged, despite Covid-19 having a widespread impact on people’s finances.
  • 40% of UK people are keeping secrets from loved ones regarding savings, loans, and credit cards.

The most common financial product secrets were:

  • 37% had credit cards
  • 23% with undisclosed personal loans
  • 21% with secret savings accounts

Millennials (25-34-year olds) are the most secretive generation with 59% (3 in 5) hiding money products compared to 26% of retirees (65+).

The most common hidden products in 25-34 years olds were:

  • 40% had credit cards
  • 31% had personal loans
  • 23% with overdrafts

The study also revealed people in relationships underestimated the extent of money secrets their partners keep from them and once they opened up to partner's their finances became easier to manage.

In relationships across the UK the research suggests that when it comes to their partners financial situation almost a third (30%) said their partner does not know how much their annual income is approximately.

During Talk Money Week and beyond MaPS provides a wide range of resources to help people improve their financial wellbeing, starting from a conversation.


This is a tough.  Some couples elect to keep money seperate anyway.  Others get themselves into debt and are embarrassed.  Others gamble.  Others do have a 'secret life' outside their relationship.  Others simply hold a card and secret email address so that they can even buy gifts for their partner without it being known and thus a genuine surprise on birthdays, anniversaries and the festive season.

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