Japanese housewives amassing secret fortunes
Mon Feb 20, 9:37 AM ET
Nearly half of Japan's housewives keep money secret from their husbands and most of them doubt their spouses have any idea about it, a survey found, showing women's hold the purse strings here.
About 46 percent of housewives said they had secret funds, with the sum averaging 2.41 million yen (20,000 dollars), according to a survey of 500 wives in salary-earning households by Sompo Japan DIY Life Insurance.
The hidden savings seem to be accumulating with time, as the average sum was four million yen for housewives in their 50s, nearly three times as much as the 1.46 million yen for those in their 20s.
On the other hand, 76 percent of the women believe their husbands keep no such secret money.
Even those who suspect their husbands have funds they don't know about estimate the sum at a modest 364,000 yen.
"After all, most wives believe their husbands have no secret assets and they have a grip on their family purse strings," the life insurer said.