British people are being more careful with their finances when they decide to move in with a new partner, according to new research from online bank first direct. Only 1 in 5 couples surveyed (20%) had decided to unify their money and control all their finances from a joint account.

For the majority, financial commitment was not on the agenda, with couples keeping their distance in their money and property arrangements.

The survey of 1924 UK adults reveals that amongst those living together or those who have previously lived as a couple, the majority did not unite their finances with their partner. Around 58% did not set up a joint account when they moved in, while a further 21% only set up a joint account for bills, keeping their existing separate current account for their own spending.

This contrasts with research by first direct in 2006, which found that just 26% of people thought it was important for couples to keep their finances separate within a relationship. This suggests that the trend of couples keeping their financial distance has grown over the last 5 years.