Opting out of joint finances ... Many Australians are choosing not to mix money and love and are opting to keep their finances separate. Picture: Thinkstock. Source: ThinkStock

Women are more likely than men to try and be fiscally fit by keeping their monetary affairs separate, but experts say the secrets to a financially-loving relationship is for couples to be “open and transparent.”

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Separate finances ... People are getting married later in life and have more established financial patterns. Picture: Thinkstock. Source: ThinkStock

New results from an ME Bank survey show one in five women (19 per cent) are not willing to share their finances and opt to go it alone when it comes to their bank accounts, compared to about 13 per cent of men.

ME Bank’s chief marketing officer Rebecca James said there pro’s and con’s when it comes to mixing finances but more women were choosing to fly financially solo.

“We’re getting married later in life and by that time women have established a large amount of financial independence so it can feel like they’re giving up something,’’ she said.

No deal ... Almost 20 per cent of women in relationships are not willing to share their finances. Picture: Thinkstock. Source: Supplied

“Joint finances can make sense because of simplicity, it’s easier to pay for joint items, it stops discussions around who pays for what particularly when children are involved.

“But it’s absolutely possible to be in a relationship and not have shared finances.”

She said once couples have children sharing finances becomes much more common.

The Australian Securities and Investments Commission’s chief executive officer Miles Larbey said every couple will have a different approach to money but being transparent is key.

“If you’re in a relationship it’s important you talk to your partner about money and you understand whether you have similar attitudes to spending and saving,’’ he said.

Open and honest ... Financial experts say no matter what accounts couples choose, being transparent is key. Picture: Thinkstock. Source: ThinkStock

“The key thing is that if you are sharing money with someone you trust them deeply, but I think people should be careful about being pressured into opening a joint account.’’

But if couples do end up in Splitsville many admit they won’t be able to financially cope.

The results found about 15 per cent of women would carry expenses and debt that they would be unable to cope with if they went through a breakup compared to about 13 per cent of men.

Mr Larbey said Australians should have three months’ worth of living expenses set aside in case they do split up or an unexpected event occurs.