November 21, 2021
In a new poll from the National Endowment for Financial Education around 43% of adults in relationships with combined finances say they have "cheated".
The results of the survey showed that 61% of adults in the U.S. have had combined finances with a current or partner and 43% of those individuals say they have committed an act of financial deception. Financial deceptions described in the survey include hiding cash, hiding a bill or purchase, hiding a bank statement or account.
One of the main reasons given for committing an act of financial deception was the belief that some financial matters should still be private, even from a partner they share finances with. Another main reason was individuals feeling their partner would disapprove based on past financial conversations. Lastly, individuals also stated that they were embarrassed or fearful to discuss their finances with their partners.
When the individuals who had combined finances and had committed financial deception 85% of the individuals claimed it had some impact on their relationship. The main impacts were causing arguments, less trust, less privacy, divorce or separation, and separation of finances.
The only reported positive impact that individuals had from committing financial deception was that it brought partners together as a result of a conversation had on finances stemming from deception.
Finances are incredibly important in a relationship and honesty among partners is always for the best for a lasting relationship.