I just read an interesting article discussing financial infidelity. The poll done by creditcards.com said of the 67% of those that keep a financial secret from their spouse confessed it was a hidden credit card; 45% had a secret savings account; 38% a hidden checking account and 18% of respondents had a financial secret but wouldn’t share it. Money and marriage sometimes cause friction.
I’m not surprised by these stats in the least. When I was married we had a plan for how we would combine our income to pay bills, invest monthly and each have some play money to spare. This agreement worked fine and we rarely had any issues. But I still had a credit card in my name only to help build my credit score. This was a strong lesson I learned at 19 when my parents divorced and none of the established credit was in my mom’s name.
My credit card was not a secret but how much I spent or what was owed on it was. It was just easier than having the “talk” every single month about why I needed the purchase, what it had cost and what it would do to the monthly bottom line. The survey results support that I am not alone in my thinking. Fifty percent of the respondents had lied to their partner/spouse about their spending. Over little things such as clothes or how much it cost to have their hair done. Again I believe it is so you don’t have to justify your actions for the purchase or have any bad feelings about it in anyway.
The funny thing is now that I’m on my own I actually go through the “talk” in my head. Is this a want or a need? What will the cost do to the amount I have to put toward savings affect my ability to save money? Can I really afford this?
So my reasons for cheating are my own but I wondered how many of you have cheated financially committed financial infidelity? Do you too have dirty money secrets?