There’s a reason why Beyonce says you should’ve put a ring on it. Especially if you’re keen to merge those finances.

New research commissioned by the Teachers Mutual Bank reveals that two in five Australians say they’d only share a bank account with their partner after they were married.

Why?

Almost 40 per cent of respondents said they choose to keep bank accounts separate in a relationship in order to keep control of their independence, with more women than men citing this as their number one reason for not combining cash.

And it doesn’t matter if they’ve started a family together, with that being the least likely reason to open a joint account, along with their partner being unable to manage their spending.

It’s 35-44 year olds who stand as the stiffest opposition, being the most reluctant group to open a bank account together. One in five (17 per cent) respondents aged 35-44 say they wouldn’t ever join finances, compared to the one in 10 Gen Ys or those aged over 65.

Dr Bruce Burns, senior lecturer for the School of Psychology at Sydney University, said the 35-44 year old age group could be more cautious about sharing finances because they’re more risk averse.

“Australians within this age bracket are likely to have more to lose than those of a younger age group and, therefore, they’re more conscious of protecting the assets and income they’ve acquired through hard work.”

And Theresa Mason, chief sales and marketing officer at the Teachers Mutual Bank, points out that Aussies have an independent approach to their finances.

“Australians’ conservative approach to opening a joint bank account with their partner is interesting, with many choosing to only do so after marriage. At TMB we have observed a steady increase in joint mortgage accounts over the last few years, indicating that a home loan is a key step in a couple’s financial relationship.”

And it turns out that money continues to be a contentious subject for couples, with 29 per cent of respondents saying they argue with their partner over how much they save, what they use their savings for, and about their partner’s bad savings habits.

Got any tips for tackling finances with your partner? Let’s hear them.

Pic: Alex Gorzen via Flickr.