Couples go it alone in cash management

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The Independent Online

Couples are increasingly likely to keep their finances separate and avoid joint bank accounts, research from PayPal suggests.

In a survey by the online payment provider, more than seven out of 10 couples said they kept their finances to themselves. One in six do so as they refuse to take responsibility for their partner's spending, with more than one in 10 having separate accounts to avoid arguments.

Despite this, the survey also found that cash was the main reason for domestic disputes. Four in 10 couples said they fought over this issue between once a week and several times a month; a quarter of couples admitted they had fights about money at least once a month.

"There is a growing trend emerging, with people having separate bank accounts so they can keep control of their own finances," said PayPal spokeswoman Christina Hoole.

"It also appears that arguments over money are most frequent after people have been in a relationship for a while," she added. "Perhaps people wait until they feel settled with their partner before bringing up the sticky subject of finances."

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