Millions of British consumers are aiming to avoid the financial risk of having a joint account with their partner, it has been revealed.

According to a study carried out by the online payment firm PayPal, more than seven in ten people around the country keep at least some of their cash in an account separate from the partner.

Often this option is taken up by people looking avoid added potential for debt management or money problems, while 17 per cent what to remain unaffected by their partners spending habits.

Reflecting on the research, PayPal’s UK spokesperson Christina Hoole said: "There is a growing trend emerging between partners and how they manage their finances, with people having separate bank accounts so they can keep control of their own finances."

Debt problems are squeezing the finances of many British families and most are now tending to rein in their spending, according to a recent report from the Alliance Trust.