AARP recently posted an article on secret spending between spouses that highlighted a Consumer Education Services, Inc. survey on financial infidelity. The article states:
Are you guilty of financial infidelity or spending money your spouse doesn’t know about?
In a recent survey commissioned by CESI Solutions, a nonprofit agency dedicated to debt-free living, 80 percent of married individuals admitted hiding purchases or keeping their spouses in the dark about certain spending decisions. Yet 73 percent of those married persons said they believe that spending more than $100 without telling your spouse is unacceptable.
So what’s with all the hush-hush financial habits?
Sharing financial responsibilities can be challenging, especially if your spouse or significant other has a different “money personality” than you, and the two of you are set in your ways. Even many older couples who have been together for years can find it difficult to see eye to eye about money matters.