Joint accounts are becoming less commonplace for newly-wed couples, new research has suggested.
A study conducted by
Tesco Bank revealed that the modern couple now waits around two years before pooling their finances, with one in three opting not to do so at all.
The joint account – which proved highly-popular in the seventies and eighties – is being taken up less as a result of more women being established wage-earners.
Of all the couples surveyed, some 56 per cent said they prefer to keep some degree of financial independence rather than deposit all funds into one account.
Professor Karen Pine, co-author of the personal finance book Sheconomics, said: "This pooling of resources left some people feeling powerless or even exploited. Inequality remained an issue because many women did not – and still do not – earn as much as their male partners."
She added that most individuals like to manage their own money as opposed to having to justify it to another person.
According to the findings, 34 per cent of respondents still use a shared
credit card, while 30 per cent said they have taken out a joint
life insurance policy.
