About two million people collectively have savings of £480 million which they keep hidden from their partner, research has claimed.

One in ten people said they had money their partners did not know about, with three per cent admitting they had more than £5,000 set aside, according to insurance giant Axa. More than a third of couples said money was the biggest cause of arguments.

About 37 per cent of people with secret savings said they kept the money to spend on themselves, while 31 per cent said it was for emergencies and nine per cent said it was in case they got divorced or split up.

Friday October 17, 2003