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Secret finances to increase

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25/04/2008

Technological advances will significantly increase the number of people’s secret finances in the next fifty years, according to National Savings and Investments (NS&I).

Research from NS&I found that as a result of predicted developments in remote and mobile banking methods, people will be increasingly able to keep their savings and spending habits from their partners, with around a quarter of people estimated to be keeping secrets about their money.

Dax Harkins, spokesperson for NS&I said: “It is fascinating to see that such developments could lead to a trend of more individuals also having secret accounts and stashes of money, giving them much more freedom in the way they save and spend their money, whether that be on shoes or cars. A lack of knowledge and control over a partner’s finances, however, may lead to friction among some couples who are used to influencing such decisions.”

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