The Value of Things Part 2
Written by Robert Bester, Consumer Finance Expert Robert has been a writer for six years, specialising in consumer finance and the UK lending market. Concentrating on consumer credit products, Robert writes informative articles that help customers manage their personal finances efficiently.
11th January 2021
1 minute read
Part 2: Relationships, Sex & Money
Part 1 of our Survey of UK Consumers looked at how Spending Trends have been affected by the digital revolution. In Part 2 we asked 1500 tax-paying British adults how they viewed sharing money with their partner.
- A quarter of married people keep money from their partners
- Women are more likely than men to value financial independence
- People who have better sex lives are less likely to know the value of essential items
The survey also took on board lifestyle preferences both socially and at home to see if such preferences had any impact on attitudes to money.
The frisky prefer frivolities
People who enjoy the most sex – once or more per week – scored a paltry 2/10 in our valuation quiz. The price of essentials caused the biggest problems for this consumer group, with a far greater knowledge of the price of non-essentials such as the price of a Mars Bar or can of coke.
So, does having more sex lead to being more spendthrift?
The answer seems to be yes!
Perhaps the energy gained from digesting chocolate and caffeine-filled fizzy drinks is worth far more to those pursuing such hobbies than knowing the price of a postage stamp…
In sickness and in health – but not wealth
Regardless of spending preferences, it was interesting to see that nearly 25% of those surveyed who were married admitted to keeping some savings away from their other half.
Perhaps unsurprisingly, 63% of those who kept their partners’ in the dark when it came to savings were men.
While this lack of trust may be surprising, the reasons given for keeping money secret from their partners were even more remarkable…
Almost half of the men and 43% of women claimed to keep money secret from their partners so that they could spend it on them later. What we don’t know is whether they actually did!
Another striking finding from this survey is that women were much more likely to cite the need to keep financial independence, with 46% giving this as a reason for keeping money away from their partner, compared to 35% of men.
Are you buying your friends?
Some interesting stats emerged when it came to people’s lifestyle choices and social circles. Credit card users were found to have wider social circles than those who preferred other payment methods. Those with several cards have the widest social circles of all.