Sixty percent of women:-* and
nearly half of all menB-) who
responded to a recent
survey by American
Consumer Credit Counseling
admitted in some way being
dishonest about money with
their spouses.
Nine percent of menB-) and 11
percent of women:-* said they
have avoided telling their
spouses about certain
spending because of guilt.
They are also hiding debt.
Eleven percent of men and
14 percent of women said
they have debts their
spouse or partner doesn’t
know about. Close to 20
percent of all men and
women said they’ve kept
money secrets of some kind
so they wouldn’t worry
their spouses with the
But not everybody is
“cheating”. Fifty one
percent of the men
surveyed and 40 percent
of women said they had
never been dishonest
about money with their
spouse or partner. Just
three percent of men and
four percent of women said
they had spent money but
didn’t feel a duty to tell
their significant other. It
was a lone 2 percent of
men, and 5 percent of
women who admitted they
have hid money from their
partner or spouse so they
wouldn’t spend it.
So what do these numbers
mean? “The simple fact that
partners, as close as you
may think they are, still
have secrets that they
don’t share with one
another. No matter how
much you think you know
your partner, there is
always a level of secrecy
that comes with every
relationship and spending
money; hiding money is part
of it,” says Katie Ross,
education and development
manager for American
Consumer Credit
Counseling. “The survey
shows a weakness in men
and women, both showing
an almost equal amount of
having debts that are not
The takeaway is clear,
“Honesty is the best policy.
Admitting you have financial
troubles and or admitting
what you are actually
spending your money on
upfront is best in your
relationships with your
partner or spouse. This
way you and your partner
can work through any
potential financial issues or
help one another budget
individually or as a family.
Couples need to support
one another and their
purchasing choices whether
they agree or not,” says
What’s key, she says, is to
know why you are spending
money on something and to
weigh the benefits, both
short and long term. Ask
yourself, how will this
impact my family? Is it going
to put us in a deficit and
make it difficult to pay for
our real needs versus
wants? “By budgeting
together and then sticking
to a budget, you are acting
like a true partnership.”
Truth is, it’s precious few
who aren’t at some point in
their life and relationship
going to run into money
troubles. Says Ross, “Face
it head on and together you
can work through the
difficult times. Be honest,
open and it will make your
relationship stronger.”

Post Your Comment



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s