Love, actually… comes with a back-up plan: 30m Brits saving for a break-up

With Valentine’s Day around the corner, plenty of couples will be seeing their relationship through rose-tinted glasses, but for millions of Brits there’s a more hard-headed reality in the background: a “just in case” fund for if things don’t work out.

New research from Novuna Personal Finance reveals that 56% of UK adults now have an “independence fund” – a stash of savings set aside in case a relationship breaks down – up from 50% last year. That’s around 30 million adults saving for a potential break-up, with Brits aged 25+ now holding on average £5,192, equating to more than £140bn in hidden “break-up funds” even though many say financial secrecy in a relationship is a red flag.

The ‘red flag’ gap: what we say vs what we do

Brits draw a firm line on financial secrecy in relationships, yet many still keep money matters under wraps.

• 29% (around 15 million) say financial secrecy would make them reconsider a relationship
• 29% also say refusing to discuss money is a red flag (up 12% year on year)
• 43% (around 23 million) are actively adding to an independence fund
• 31% (more than 17 million) are hiding a savings account from their partner, with undisclosed balances totalling an estimated £64.6bn
• 30% (around 16.5 million) admit hiding financial information, and the same number say they’ve made a significant purchase without telling their partner
• 60% of married adults with children have an independence fund

Young working adults: most secretive — and most self-reliant

Financial pressure is also driving major life decisions for this age group: 23% returned to work early after parental leave, 21% moved in with a partner for financial reasons, and 20% have taken on debt to support a partner. Despite this, 92% say financial compatibility matters in a relationship – the highest of any age group.

• 66% have an independence fund
• 50% have made a significant purchase without telling their partner
• 49% have a personal savings account their partner doesn’t know about
• 42% choose not to share the details of their finances in a relationship

Financial pressure is also driving major life decisions for this age group: 23% returned to work early after parental leave, 21% moved in with a partner for financial reasons, and 20% have taken on debt to support a partner. Despite this, 92% say financial compatibility matters in a relationship – the highest of any age group.

Mind the gender pay gap

Men appear more financially prepared for the unexpected, collectively holding £1.8bn more than women in break-up savings. Men are more likely to:

• Keep an independence fund (62% vs 49% of women)
• Conceal a savings account (36% vs 27%)
• Make big purchases without telling their partner (37% vs 25%)

If a relationship ended abruptly, men could support themselves for 5.5 months – over a month longer than women (4.2 months).

The UK’s most financially secretive (and most open) cities:

• Most likely to hide financial details: Newcastle (37%)
• Most likely to make secret purchases: Manchester (38%)
• Highest proportion with an independence fund: London (60%)
• Most financially open: Leeds (lowest hidden purchases 19%, lowest concealed financial details 18%, highest financial compatibility 91.23%)

Financial compatibility score (selected cities):

• Leeds – 91.23%
• Manchester – 89.42%
• Birmingham – 88.68%
• London – 85.09%
• Edinburgh – 75.56%
  

Top 5 cities with the largest independence funds:

• Nottingham – £5,838.48
• Plymouth – £5,424.13
• Liverpool – £5,404.20
• Sheffield – £5,325.04
• Southampton – £5,311.66

Theresa Lindsay, Chief Marketing Officer at Novuna Personal Finance, commented:

“Valentine’s Day can make it feel like love conquers all, but money worries don’t disappear just because it’s romantic. A lot of people are doing two things at once, building a life with someone, and quietly making sure they’d be OK if things fell apart.

“That doesn’t automatically mean they don’t trust their partner. For many, it’s a reality check, life’s expensive and starting over feels harder than it used to. The real red flag isn’t having a back-up fund, it’s pretending money doesn’t matter.  Have an honest chat about what ‘fair’ looks like: what you share, what you keep separate, and how you both stay secure.”