Where do you hide your running away fund

Thats not true. I’ve opened a few online accounts.

I don’t have a “running away fund”. I have personal savings and joint savings with my husband. He doesn’t know how much savings I have (and I don’t him) although I’d say if he asked. If we are saving for something together we have joint savings for that. And savings for the kids that only access (because I set them up but we jointly pay into).

I squirrelled mine away in a savings account attached to my current account……both were in my name only. Even if my ex did open my bank statement, back in the day they were posted out, he only saw my current account balance but not the savings account !
Do not save cash, it earns no interest and is easily lost or stolen and you can earn up to £1000 in interest on savings before paying tax on it.

You can opt to have NO statements by post, there’s an option for emailing those instead., in fact, many banks prefer paperless communication now.

Why would it be any more of a piss-take than stashing cash around the house? You have an entirely valid reason for doing this, and anyway it's up to you to decide what you do with money you earn.

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in the bank would be a safer option

You’re starting a new job where you will be paid in cash and then you have to pay taxes etc out of that cash? Is it some kind of business rather than you being an employee?
If you’re starting up a little business, say a dog walking business, good practice would be to open up a bank account for that business. All money earned (by cash or bank transfer) should promptly go into that account. And no other money. This will make doing your taxes much much easier. Income for each month = the sum of all the deposits for that month. Expenses = withdrawals (label them). Then you can pay yourself out of that account each month (again, label it) as well, leaving plenty for taxes etc.
If you’re starting up a business and your current knowledge of accounting is that keeping your business’ earnings in an envelope of cash behind a picture frame is a good idea, then you would benefit from some professional advice. Could you pay for an hour with an accountant specializing in small businesses? They could give you advice about how to manage paying yourself/setting aside money for taxes etc.

Haven’t read all the thread.

IMO, you always get a single letter when you open a new account, to your address, and one when you close an account. I have lots of accounts with different institutions. This is for online accounts.

Surely your salary goes into this account you share, so he will know what you bring home, it won’t be a secret when you start moving money elsewhere or taking large sums of cash out.

How are you a high earner and so financially naive?

I’m you could bank with Monzo? They are online only so you won’t get any post.

Not rtft but the very obvious answer is to juat open another account as many have said. I would suggest an ISA of some kind. Thia can all be done online now, my banking is all.digital so no posted statements. However, I am.much more concerned by the fear you seem to have of being 'found out'. How is your husband in other areas of life? Is he controlling? Do you have a trusted friend or therapist that you could talk to to get a better idea of how your relationship compares to others. Good luck and happy saving!

https://www.moneysavingexpert.com/banking/budget-planning/

Maybe call this an emergency fund which covers all emergencies rather than a running away fund.

Just open an account at another bank if you're so paranoid about about him finding out. Ask for digital statements only and no post going to the house.

Don't hide cash in the house because it'll go up in flames if your house ever caught fire plus it's a security risk.

Why don't you suggest a finances a restructure. You both get paid, you have a spreadsheet of all outgoings, all bills, groceries, anything for your daughter, savings jointly and for her in different accounts, then whatever is left over is split in two for personal spending/fun money, he might like that he can do whatever he likes with his, sounds like he'll spend it all. You don't have to with yours. Get Monzo or similar and have pots. It's what we do, DH is aware I don't spend all of my personal money and before Christmas I was looking to buy something expensive and book a trip with friends and he said can you afford that (he was offering money from our joint short term savings), I said yes and explained I often don't spend all of my fun money so have savings for things like that. He didn't know exactly how much, but he has now gone and got himself a Monzo to do the same as I think it clicked he's been frivolous. It's a set up that gives you both financial security and financial freedom.

Some people want to have control over their spouse's finances to trap them so I understand why some of us want to hide the "run away" fund.

Anyway, I don't hide, I just have an ISA for any sort of emergencies. ISA can only be yours, he can't force you to share with you. Some don't send any physical letters at all like trading 212, you can also put cash in their high interest invest account to pay bills. This will give you immediate access (also cash back!)

I have a savings account solely in my name that I access online - no hiding cash in envelopes for me! It's not really a running away account (although it could be if I wanted it to be), more of a rainy day/emergency stash (which recently bought us a new car when the old one gave up on us).

Maybe just tell him you are startig a saving account for the future, and getting one of those long term deposit ones so the cash won't be accessible. Then go paperless. So a very small white lie only.

Max out your ISA allowance and then max out your Premium Bonds. I actually prefer PB’s as the money is so much more accessible.

How on earth have you managed to get a well paid job and these are the type of questions you are asking? You don’t know what paper free is?

My sister in law keeps her running away fund in my savings bank account.

I don't have one, because I don't feel like I will ever need to run away. Been with my partner for 20+ years (lost count), and so far so good👍

Or just say it’s a marketing letter if he just sees the envelope , if he physically sees the actual letter I suppose you’d have to make something up eg old childhood account or something

Hi op, my partner and I have joint account where money for bills and food and savings goes into. I opened some savings accounts with the same bank provider where I then send the savings money to, for holidays and rainy days, as well as a normal savings account. I transfer those funds from the joint account, after we have both paid in. On our online banking apps, my husband can’t see any of the savings accounts for holidays etc that I opened, he can only see the joint account. That’s because the savings accounts are in my name only. This wasn’t intentional at the time but they aren’t a secret and my partner doesn’t mind either way. Perhaps you should do this, and have the money being provided from both of you towards DD health bills and holidays? Seems unfair that only you are saving for those things. Also means you don’t need to hide it, or explain at a later date where the money suddenly came from. But, because they are in your name, he can’t access them and fritter it all? Hopefully he will be on board with the idea of support for DD and also the idea of a future nice holiday? And recognise that he would fritter it? You could show him the balances each month though to show the money building up.

And, as a separate point - I also have a separate current account for direct debits in my name only, with a different bank provider, and a few saving accounts linked to that, for personal savings. I think you should also be doing this with a chunk of your monthly earnings. My husband has no idea what I’m saving in mine (nor do I for his personal ones, which he also has).

I reccomend a high interest one that you pay into monthly and don’t touch, for the future, that will build interest and is there if you need it. Most banks will let you have one. And then an easy access or limited access ISA. Your husband can’t log on to your banking apps unless he knows (1) that you have it and (2) you password x

Open a Monzo account and save it in a pot or one of their instant access savings. It's all digital.

Do you have an old handbag in the back of a cupboard, or holdall / suitcase? He's unlikely to look in there unless any of you are planning a trip, and Im assuming you'd know before he went to pack so could grab it back?
Or if you have any gardening stuff this time of year?
Christmas decorations box is unlikely to be touched soon?

Sorry it's for medical stuff for your daughter ❤

Sorry but if you are not in the UK and not getting paid in pounds sterling, then most of
of these bank account suggestions are useless. You'll need to tell us your country and currency in order for us to help.

Open a monzo account, there’s no branches and everything (including opening it) is done through the app. It’s paperless and then hide the app.
im sorry you’re in this position. Also in case it helps, if you explain your situation to a lot of banks they would be able to help you secretly.