10th April 2014
Nearly half of all couples do not know for certain how much their partner earns though women have a clearer picture than men according to research conducted for Stowe Family Law.
The research suggests that nearly half (47%) of all couples* cannot say for certain what their partner earns though 43% of women say they do know exactly, compared to only 39.5% of all men. The research found that significant regional variations also emerge regarding the amount of financial transparency between couples. Belfast was the city where couples were least likely to know exactly how much their partner earned (27%) compared to 46% in Edinburgh, 43% in London and 52% in Cardiff.
The older the couple are the more likely they were to know how much their partner earned. A quarter of 18 to 24 year olds know exactly how much their partner earned compared to 48% per cent of those over 65 years old. The research was commissioned by Stowe Family Law, to establish whether women or men were more likely to know exactly what disposable assets they have.
Marilyn Stowe, the Senior Partner at Stowe Family Law says: “We see many clients who either have no idea at all what their partner earns, or have completely over estimated their partner’s salary.
“This survey just illustrates how vague couples can be regarding the state of their finances. When a relationship has come to an end the greater the financial transparency there is between the couple the less stressful the divorce proceedings will be. Despite the economic climate there is still a lack of financial frankness amongst families.”
The survey also revealed that a small proportion of couples have no idea whatsoever what their partners income is. Twice as many people in Northern Ireland have no idea what their partner earns (10%) compared to 5% in London and South East England. Elsewhere 6% remain totally unclear what their partners earned in the Midlands, the North of England and Wales.
The survey questioned 2000 people.