Husband hates sharing savings details with me(41 Posts)
Husband and I have been married for 13 years and have 1 child. We have separate bank accounts and currently saving for a house deposit. Whenever I ask him how much money he has in total (he has lots of accounts and an ISA) he either doesn't tell me or tells me then moans that I am always asking him, I probably ask every few months just to gauge how much we have. We have never sat down and worked out a savings plan (we normally have quite a bit left over after bills etc) or discussed income and outgoings - I know some people have spreadsheets and record everything. I just want to know so I have an idea of how much mony we have, but he hates talking about it- Does this happen with anybody else?
He is happy to have sex with you and have a kid with you, but won't share the essential information you need to ensure security for that kid? If anything happens to him what are you supposed to do?
ask him straight why he won't have a full partnership with you. Is he worried you will spend it all? Doesn't he trust you?
BTW wills? Guardianship arrangements? power of attorney?
No it doesn't. if you are saving for a house deposit then it makes sense to work out how much you can save and how much you are saving so that you have some best guess as to when you will have saved enough.
he might have lots of accounts and an ISA but you are married and therefore this does now all fall into a family pot in my opinion. do you have any of these things or do you think that you are saving a disproportionate amount in comparison to him? does he realise that there are reasons why you need to know about these accounts ie if anything were to happen to him or if your relationship broke down?
I can understand people wanting their own money to spend on their own things but when it comes to savings, isa's etc then I think both parties have to know the score.
He doesnt want to tell you about his money because he thinks of it as his.
Maybe point out to him that the money is half yours, even if your name isn't on the account!
To answer some points, we both have ISAs and both earn about the same so are therefore probably saving about the same. He got life insurance a few weeks back and made a will - I haven't done either yet just out of laziness.
He is really good with our child, and helps around the house etc it is just this one thing that drives me mad about him. He did once say that he wanted to surprise me by telling me he had saved the deposit, but not sure how true that was as I had kept on at him about savings! Bills wise we share the costs equally. I think what annoys me the most is he wont sit down and go through the finances properly and make some sort of plan.
Get your name on every single account and access details to all of it.
Massive bad sign for him to be hiding all the money from you.
Get your name on every single account and access details to all of it.
Why? OP says they both have their own savings and bank accounts, so it's not like he's hoarding all the money and being financially controlling.
Massive bad sign for him to be hiding all the money from you
He's not, he's being secretive about his savings in his account, not "hiding all of the money"
Is he the sort of man who may well want to surprise you by having saved the deposit? Dh and I have separate accounts but he knows exactly how much I have in savings (he has none in his name as I earn more, but he has equal knowledge and say over how money is spent and we're in the process of making my savings account into a joint one). If he's a decent guy in other ways, maybe he's genuinely wanting to surprise you.
Sounds like he thinks of it as just his own.
Tell him you are starting a spreadsheet to list all of your individual accounts and balances. You will need him to bring his statements so there's no hiding balances, the reason for this is so you can both get a clear picture
I guess he will not like this at all, start making excuses / refusal. you will need to have it out with him.
If he is hiding what is actually in it chances are he has secret accounts too and that would ring alarm bells as to why. (Hiding affair expenses, escape fund, potential divorce in future with assets hid).
Even if couples have separate accounts surely they generally know their worth?
I'm sorry but I'd be concerned the savings were not there at all. In my family there was a divorce where husband found out afterwards the wife had been putting household bills on credit cards in order to spend the cash on herself, then stashing the goods she'd bought.
No, our savings account is joint.
Suggest you move to joint savings account with equal access " for richer for poorer"
Are you a bit of a spender? In the past I've had to keep the amount I have from previous partners as they they see it as their money to go and spend. Do you think he's worried about this?
Thanks all, think I will leave it until I have a bit more saved then suggest we speak to a financial advisor i.e mortgages (my aunt gave me the number for one), that way he will have to prove how much hes got in order to get the mortgage.
And no, I am not a spender - the opposite in fact.
I'm guessing he doesn't have anything, or very little, saved.
we both have ISAs and both earn about the same so are therefore probably saving about the same.
Sorry but the former being true in no way makes the latter "therefore probable".
Dh, how near are we to being able to apply for mortgage? I have £10k saved up. How about you?
Why can't you ask that? Very odd
I think you need to push quite hard on this, OP. It's a bit of a red flag. Before I got married I lived with a family member who was very reluctant to share their finances with me. They refused to show me statements, always giving me "rough figures" instead. In the end, the bank manager broke every rule in the book by telling me exactly what state their account was in. It turned out that they were in horrendous trouble.
By contrast, my DH and I are very open with statements and review our finances regularly, not in a formal way, we just sort of talk about it as we talk about everything else. I'm not one of those people who thinks that married people should have no accounts that aren't joint - we don't have a joint account and never have - but I can't think of any reason for one half of a married couple not wanting to talk about what they've got saved that bodes well. Sorry
As you keep your accounts separate you don't need your name on his accounts as pp suggested unless you was to add his name to your accounts too BUT as you are planning to buy the house in joint names? He should give you a figure of how far he is with his side of the savings.
Just say to him "we need to get on this buying a house thing, the deposit would be roughly X I have X amount saved what do you have saved? "
Are you positive he wants to buy a property?
Given what you've said about equal earnings and splitting outgoings, then I expect that he's not saving as much as you think!
Why don't you work out what is realistic and both save it to a joint account (Help to Buy ISA?) then you have instant information.
If I were him and you were asking All The Time I supposed I might get irritated.
Why would you need to consult , and pay for, a financial advisor, in order to get a mortgage? Try doing some research yourself on best buy mortgages then contact the providers direct.
You mention that you have not discussed a savings plan with your partner: why is that? If you have a clear goal, for buying a house, why wouldn't you agree together how much you can save, over what period of time? Just wonderin'
I wouldn't want to be jointly liable for a mortgage with someone who wasn't honest with me about their finances - I'd be worried about losing my home to their gambling debt or something. The fact someone has a good income does not say anything about their outgoings, including debt.
Fine to have separate accounts, not fine to be looking at having joint debt and responsibility without transparency.
It sounds like he's not saving as much as he wants you to think - has he ever been into things like gambling that may have spiralled into a problem?
I would be very wary about taking out a mortgage with someone who won't share their financial status with you. It's bad enough to find out that your partner can't pay the rent, it would be even worse to find out that they'd spent all the savings and secured loans on the house you own.
I definitely would be suspicious - I'd probably approach it in a "look if you haven't saved much that's fine, but I'd like to know roughly so we can plan for the house". We have all joint finances, I know some people like to keep them separate, but I like that I know to the penny exactly what we have in savings.
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