Is Your Partner Lying to You About Money?
To a certain extent, it's normal for couples to have issues around money. We don't all spend, save, or budget the same way — there's bound to be some misunderstandings when two people start sharing expenses.
But there's one thing couples do when it comes to money that can mean trouble. According to a recent survey by personal finance company SoFi, many couples prefer to keep their money troubles hidden from their partners.
So what, exactly, do people lie about the most? Let's dig in to the juicy details.
Keeping a secret bank account
A separate bank account could be good for couples in case of a divorce or break up.
But instead of explaining to their partners why they have a separate account, one in 10 respondents of the survey said they keep their separate bank account hidden from their partners.
See also: Are You Financially Compatible?
Snooping through the other's finances
Maybe because they suspect a secret bank account ... some people don't trust the other person in the relationship about their financial situation.
SoFi found that 14% of those surveyed admitted to snooping into their significant other’s financial situation behind their partner's back.
Admitting one's spending habits can be tough, maybe even embarrassing. Maybe that's why a whopping 42% of those surveyed say they have lied to their partner about what something cost in order to avoid fights.
The good news? Most of those who lied about the cost of something (77%) only did so about items costing about $250 or less. It seems that it's easier to bend the truth when it's a small purchase.
Concealing their debt
More than one third of people said they would rather share their cell phone password, giving their partners access to texts, photos, and even browser history, than share how much debt they have.
For other stories about money, student debt, and budgeting, check out Your Financial Future.