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Women admit to secret cash stash

It seems the new secret to keep from your partner is not an affair but a stash of cash! According to new research from financial services company, Scottish Widows, almost one in ten women keep savings hush hush from their partner.

But despite there being over one and a half million secret women savers in the UK, for many the financial future isn't looking rosy. 28% of women admit that they only plan their financial security on a daily, weekly or monthly basis and nearly a quarter admit they are worried and pessimistic about their financial future.

Anne Young, senior marketing manager at Scottish Widows explains why women should plan ahead for their future: "It is becoming ever more important for women to think about the best way to secure a safe and independent financial future," she said. "In today's ever-changing society, jobs, marriages and money come with no guarantees so planning ahead is essential."

"Our survey findings show that there is a trend for women to build their own savings separate from their partners. Nowadays many women create a large degree of financial independence before entering a long-term relationship."

Midlands ladies topped the poll for squirreling their secret savings away, whereas, the upright ladies from the East proved they are the most honest when it comes to disclosing their savings. The principle of the 'older the wiser' certainly applies here as the over 35s are the most secretive, with nearly a third admitting to concealing their savings.

However, the Scottish Widows survey found a shocking 64% of women admit to not being financially prepared for the future - which could leave them vulnerable to poverty in later life.

As more women are striving for financial independence through working and building successful careers many are finding their spare cash is used for household expenditure rather than saving.