NEW YORK—A new survey shows that 31.9% of consumers polled have experienced “financial infidelity.”
This represents a two-percentage-point increase over last year's survey about financial infidelity, U.S. News & World Report reported.
“Financial infidelity occurs when one partner hides or lies about a money-related decision. This could involve, for example, one partner having a secret credit card account or a personal debt that was never disclosed,” explained U.S. News & World Report, which conducted both surveys.
The Highlights
Among the highlights in the survey, according to U.S. News & World Report:
- Financial infidelity covers a wide range of actions, including hiding credit card accounts or draining a shared savings account.
- Victims most often discovered the deception by noticing that account balances looked wrong.
- Only 10.4% of victims learned of the financial infidelity via confession.
- The most common reason given for committing financial infidelity is to avoid an argument.
Relationship Infidelities
Survey respondents were asked what type of financial infidelity occurred in their relationships. Among the responses:
- Making secret purchases: 55%
- Hiding debts or accounts: 44.8%
- Lying about income: 38.9%
- Draining money from savings: 29.3%
- Lending money without your partner’s consent: 20.6%
Survey respondents who identified as victims of financial infidelity were asked what tipped them off. The most common sign was noticing that account balances didn't look right.
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