With more and more couples choosing cohabitation over marriage each year, the idea of couples sharing money matters is no longer reserved just for married folks. But what exactly are they sharing? The bills, for sure, because they have to – but what about the other things they spend their money on? Is it any of your partner’s business that you bought those overpriced shoes on payday? According to the results of a new survey done by ING Direct and Capital One banks, it is.
Eighty-two percent of all couples say they’ve never kept a spending secret from their partner, and 60 percent would be upset to learn this type of information wasn’t shared with them. A whopping 78-percent of couples surveyed, all of which were either married or in a relationship at the time, feel it’s wrong to hide financial activities from their significant other.
It’s nice to see honesty prevails, although women were pegged as more likely to keep their spending to themselves. The surveyors concluded that 1-in-4 women are likely to hide clothing and accessory purchases – and we can’t say that’s surprising.
Confessing to an impulse purchase over the weekend is one thing, but hiding mounting credit card date can be far more detrimental to the financial stability in any relationship – especially if you’re sharing a home. Only 59-percent of couples say they’ve never hidden their debt from their partner. Where do you stand? Should you reveal all when it comes to finances, or are some secrets well worth keeping?