Almost Half of Spouses Cheat ... With Money
CREDIT: Piggy bank image via Shutterstock
It appears the bedroom isn’t the only place where spouses are cheating on each other.
A new survey revealed that 46 percent of people in committed relationships have committed financial infidelity by lying to their partner about money.
The most common financial fibs involved shopping. More than 25 percent of women and 8 percent of men surveyed said they have pretended something was old when it was actually a new purchase. The study also found that 32 percent of women said they have hidden purchases from their partner. The survey was conducted by Today.com and Self magazine.
Less than 10 percent confessed to more serious spending secrets, including secret bank accounts or hidden credit cards.
More than 34 percent of those who have kept spending secrets say it's because they disagree with their partner about where and how to spend their cash.
"Our survey makes it clear that money can be a huge stumbling block for relationships if couples don't take the time to talk about it frankly," said Martin Wolk, Today.com executive business editor. "It's one thing to fib about a new pair of shoes, but keeping serious money secrets from one another -- about problems with debt or spending -- can be a recipe for disaster."
The couples mean well; the poll found that around 70 percent of women and 63 percent of men thought honesty about money was as important as remaining monogamous in their relationship. In addition, about one-third of those surveyed believe financial infidelity can sometimes lead to sexual infidelity.
Self Editor-in-Chief Lucy Danziger said it's critical for couples to talk about money issues early on.
"To have a successful relationship, you need to have trust, and hiding money secrets is a huge way to break that confidence," Danziger said. "Open up about past debts, then lay some ground rules for the future and have a mutual agreement on your expenses."
The study was based on surveys of more than 23,000 adults between the ages of 18 and 80.
Chad Brooks is a Chicago-based freelance business and technology writer who has worked in public relations and spent 10 years as a newspaper reporter. You can reach him at firstname.lastname@example.org or follow him on Twitter @cbrooks76.