Money should never be too tight to mention

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ALMOST half of UK investors discuss finances with their partners less than once a month, 27 per cent discuss finances a few times a year, and 16 per cent say they only discuss it when they have to, a new survey suggests.

The research, which surveyed 1,000 people in the UK, found that a quarter didn’t start discussing their finances until more than a year after their relationship began.

Stuart Welch, CEO of Leeds-based TD Direct Investing, which commissioned the research, said: “The findings show there is a high percentage of couples that aren’t talking about their finances regularly.

“With financial issues in the UK being so prevalent, such as the pension crisis, it’s time everyone talked more about their money.

“The research also found that more than half of those polled say their financial goals align with their partners, which sounds like the perfect scenario – but unless you’re communicating regularly about money, how do you know you’re still working towards the same financial goal?

“There are so many changes constantly being announced regarding money – whether it’s pensions, mortgages, lending or the markets – so speaking regularly to ensure you’re still on the same page is essential.”

More than half of women versus a third of men say that household budgeting is their own responsibility, with men more likely to say that it’s their partner’s responsibility, the research found.

In addition, 70 per cent of male investors see managing investments as their responsibility versus 36 per cent of women.