A detailed survey conducted by Today.com and Self.com found that 37 percent of men and 56 percent of women acknowledge having lied to their partner about money. More than 23,000 people responded to the TODAY.com/SELF.com survey, and about two-thirds revealed that, in a relationship, honesty about money is as important as sexual fidelity. However, many still admit to keeping money secrets.
The poll found that women are nearly twice as likely as men to hide purchases or receipts from their partner, with nearly one-third of women admitting to the practice. When asked why they keep money secrets, about one-third of women reasoned that they earn money, so they deserve to spend it. About one-third said they disagree with their partner about what to spend money on. Those were also the most common answers men offered for why they keep money secrets.
Experts agree that when it comes to marriage and serious partnerships, financial compatibility is important. A long-term pattern of hiding money or having secret credit cards could signal deeper problems, and perhaps even be a sign that the individual is preparing to leave the marriage or relationship.
Financial issues are often a major cause of stress in relationships, and the economic woes of the past five years, including high unemployment and collapsing home prices, have certainly strained many marriages. People with very different philosophies about money may have a hard time making it. Couples who are planning together for a financial future, such as saving money together for retirement, tend to have a better chance of success than those who keep finances separate because they have fundamentally different views about money. Research has also found that struggling with debt is generally a bad thing for relationships, while saving for the future – whether it’s retirement, vacation or college expenses – is generally a good thing.
To read more on this story visit: http://lifeinc.today.msnbc.msn.com/_news/2012/04/24/11291884-how-money-secrets-can-wreck-your-relationship?lite
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com
