 |
|
  Love Me Not My Bank Account say singletons keen to avoid financial commitmentEvery year thousands of new couples opt for a joint bank account to service their joint needs and responsibilities. In choosing a joint account, they are often misdirected out of hundreds of pounds by choosing bank accounts with free gifts instead of focusing on the important qualities of a good joint bank account. Freebies such as iPods, and gift vouchers may seem attractive at first but their value will quickly dwindle in comparison to the savings you could make by choosing a current account with a high interest free overdraft that that could see you through many a tight spell.Research indicates that only 3% of single people would be inclined to close their current accounts and share with their spouses or partners. Well over half (56%) say they would prefer to keep their options open in their next relationship - with money both in a joint account and in a separate account in their own name. Couples retain their independence While couples might be committed to one another, many are far from committed when it comes to their finances, with more than one in four couples (28%) opting not to have a joint account and insisting on keeping their money separate. Nearly one in ten (8%) people in a relationship don't trust their partner enough to share their finances. Nearly one in five (17%) of couples admit that having joint finances would lead to arguments. Four in ten (41%) couples say they have never even brought the matter up, vowing to remain financially independent without discussion. Women are particularly keen to assert their financial independence Nearly half (42%) of women in a relationship, say financial independence is important for them - compared to just one in four (24%) men. Marginally less that half (47%) of women believe that they are better at managing the family finances that their male partners. Nearly one in four (23%) men think that women really are the ‘better half' and readily admit they are much more financially astute. Not that many couples are good at keeping track of their cash: Sixteen percent of couples admit to being unaware of the balance of their bank accounts at any given moment. Ten percent, while willing to hazard a guess admit that they would likely be as much as £200 inaccurate in their estimations. The tendency to stick with the same account rather than option for one with more suitable facilities, in some case for up to twenty years has resulted in around forty one percent of couple failing to keep their finances in good order. It is no surprise to see that many people wish to maintain their financial independence. It seems that money issues, whether discussing them or sharing them, remain an uncomfortable subject for many couples. There are benefits of having both independent and joint accounts. It's always worth couples shopping around to make sure the account they opt for matches today's competitive deals. Far too many people - both singles and couples - have stayed wed to the same bank for far too long." Free Article Source: http://www.za77.org About The Author: Alliance & Leicester current accounts have won the best debit interest award from Moneyfacts for four successive years, and in 2006 won the Moneyfacts’ best credit interest award for the first time. Visit the Alliance & Leicester website or your local branch for more information on the best current account. |