Survey Says 39% of Adults Hiding Money from Their Spouse or Partner

(KNSI) — New research shows 39% of adults are committing financial infidelity, and 23% are currently hiding financial secrets.

Infidelity is a big red flag, but is financial infidelity as bad as other forms of cheating?

Financial infidelity is keeping money secrets from your spouse or partner. “It could be secret spending, it could be secret debt, maybe a secret bank account or credit card account, something like that,” according to Ted Rossman, a Senior Industry Analyst at Bankrate.

He says their latest research shows that Millennials and Gen Zers are considerably more likely to hide money from their significant others. In fact, well over 50% in both age groups. “Yours, mine, and ours can work. Having a separate account can be OK as long as it’s acknowledged. What’s the problem is if you’re squirreling money away for any reason.”

Rossman says if you’re committing financial infidelity, speak up sooner rather than later, especially if it’s on the verge of getting out of hand. “I really think the cure is communication. We need to be more upfront about money. It’s OK to have to each their own but you need to agree upon how much of every paycheck is yours and yours alone no questions asked.”

The study also shows 30% of couples have opted to communicate before things become out of control and have come clean with their secret money.

Rossman adds, “It’s hard enough to accomplish your financial goals when you’re working together — it’s almost impossible if you’re pulling in different directions.”

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