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Young women are turning their back on sharing wealth with their partner, survey reveals

Phoebe Southworth
Young women are gravitating towards being financially independent, a survey has revealed - Getty Images Contributor

Young women are turning their back on sharing wealth with their partner, a survey has revealed, as they gravitate towards being financially independent.

A survey of nearly 4,000 British women found that those aged between 16 and 34 were 31 per cent more likely to opt against sharing financial assets with their significant other.

Meanwhile the majority of those aged over 55 choose to share their wealth, with only 26 per cent not doing so, according to the study by Netwealth.

It said a "backdrop of later-in-life marriages, higher divorce rates and increased financial earnings" had prompted the shift.

Netwealth CEO Charlotte Ransom said: "The traditional approach to managing finances jointly is being overturned by a new generation of financially more autonomous females.

"With women increasingly entering marriage later in life, after years of earning their own income and controlling their own finances, it's unsurprising that many are turning their back on a 'what's mine is yours' approach."

Nearly half of women (45 per cent) keeping their wealth separate said it was to maintain financial independence.

Two fifths (40 per cent) prefer to manage their money themselves, while 15 per cent do not believe their partner is entitled to their assets, the study revealed.

Some 3,876 women aged 16 and over were questioned across two surveys in May and June.

Meanwhile women's share of global wealth is reportedly rising and a record number of women appeared in Forbes’ annual World’s Billionaire rankings last year.

More than 60 per cent of the UK's wealth is expected to be in the hands of women by 2025.

Lisa Francis, CEO of Barclays Private Bank, UK and Ireland, said: “Reports show that women are out-living men. They are often the family matriarchs being left with significant wealth."

The Telegraph’s Women Mean Business campaign has fought to get better access to funding for female founders, who typically receive less than 10 per cent of start-up funding in this country. 

According to the UK's biggest ever study into the female experience of wealth, nearly a quarter of women (23 per cent) see wealth as a symbol of freedom and independence.