Do you have a secret 'escape fund'?

Jawgap · 07-02-2015 04:59PM

Lucyfur wrote: »

I had a secret account with running away money in it when I was with my ex. About 3 years into the relationship, I knew I'd need it so I saved and saved and got away from a very horrible person 4 years later.

My husband and I don't have a joint account but we've no secret money hidden. He's deadly and I don't need running away money cos I don't need to run away

If you knew he had a stash, it wouldn't be secret

PLL · 07-02-2015 05:03PM

I have a credit union account back at home where my Dad still lives (I live a good few counties away now) my oh knows about it, I would feel a bit deceptive hiding that fact from him. Don't use the money in it though, in the back of my head if anything happened to us it would be my 'escape fund' so to speak, but also if there was an emergency and we needed it I would straight down there getting it out and using it.

I'll add what someone else mentioned about it being important to have a bit of money for yourself so you can leave if you want to and don't feel trapped. When I was first with my other half and we had a young baby I had absolutely no money to myself and when we would have a hard week it would really get to me that I felt maybe I didn't know whether I was happy or not because I didn't have a choice. When my savings from part time work accumulated in my CU it was so liberating. I now knew how great my relationship was and happy we were because I had the choice to leave if I wanted to. It made me realise I never do. So don't ever look at having money of your own as a bad thing. Feeling trapped isn't a healthy thing for anyone.

One eyed Jack · 07-02-2015 05:14PM

osarusan wrote: »

Not at all uncommon in Japan, where men usually hand over their salary to their wives, who do their womanly thing and take care of all bills and other expenses.

The men are so unaware of their outgoings that some women have squirrelled away as much as 20 or 30 grand in case of divorce.

No such thing as joint accounts here.

That's exactly the way my wife and I work our finances. I have no interest in them. I bring money in, my wife decides where it goes out. I think she has a couple of different accounts in a couple of different banks and the credit union too I guess, but apart from the odd time thinking "the bank charges must be outrageous", I really don't give it much thought.

Ficheall · 07-02-2015 05:16PM

bluewolf wrote: »

I have emergency money yeah, I think most people should if they're in a position to
I think joint back accounts can be frozen for a number of reasons including death of your partner and it can take a while to sort out so having a separate one can be helpful there also

You're planning to kill your partner? :-/
I'm now kind of glad I didn't send that Valentine's card based on the "now ye're lovin' " results...

the evasion_kid · 07-02-2015 05:41PM

I work cash in hand and keep my funds in a biscuit tin,I've always kept escape money close at hand to satisfy my nomadic tendencies

todders · 07-02-2015 06:23PM

No

on_my_oe · 08-02-2015 04:47PM

I have bank accounts in three countries, but OH knows about them... It's useful as we can take advantage of exchange rates and we are wary that some countries may go to s%^#, so it's useful to have funds elsewhere in case we need a (joint) escape.

08-02-2015 06:12PM

I'm single, but I've two savings accounts. One is just regular savings, the other a contingency fund in case of emergency. My mum started a pension for me when I was 22 and put the minimum amount in until I was earning and took over last year, it's going to make a big difference at the other end of my working life. The difference between a pension started at 22 and at 27 when I finished my studies is disproportionately big.

I can't see myself with the kind of partner I feel I need to keep secrets from, maybe that's naive.

The Strawman Argument · 08-02-2015 06:30PM

When I'm house sharing, I don't even leave out the full package of toilet paper because I fully expect everyone to use more than the need when resources don't feel remotely scarce.

Applying what this example of my frugality shows about me on a much vaster scale, I'm pretty much guaranteed to hide about 50% of any future income me and a partner may have in undisclosed gold reserves away from everyone.

lazygal · 08-02-2015 06:42PM

I'm married and I've kept two accounts in my name only. There's no way I'd have everything in joint names. I've heard of women and men caught out badly because nothing was in their name alone. I think it's only wise to be able to fall back on some savings for an emergency.

08-02-2015 06:44PM

Candie wrote: »

I'm single, but I've two savings accounts. One is just regular savings, the other a contingency fund in case of emergency. My mum started a pension for me when I was 22 and put the minimum amount in until I was earning and took over last year, it's going to make a big difference at the other end of my working life. The difference between a pension started at 22 and at 27 when I finished my studies is disproportionately big.

I can't see myself with the kind of partner I feel I need to keep secrets from, maybe that's naive.

Yeah I've a pension as well it seems a nuisance now but it'll be handy when I'm at that stage for sure

cloud493 · 08-02-2015 07:15PM

Well I don't have a partner. But I do have an emergency fund in case something goes wrong.

Do you have a secret 'escape fund'?

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