The Financial Infidelity Survey, commissioned by Financial Planning Standards Council (FPSC) and Credit Canada found that:
34% of those in a relationship keep financial secrets from their current romantic partner
36% of those in a relationship have lied about a financial matter to a partner.
Younger adults who are not married, aged 18-54, tend to be victims of financial unfaithfulness.
Another report from nasdaq.com stated that 31% of survey respondents said keeping credit cards and other accounts from a partner are worse than physical infidelity. This is alarming when you consider a recent Ipsos survey as nearly half of Canadians are $200 away from not being able to pay their bills. With such a small amount of wiggle room, any kind of unanticipated hardship can lead to a great deal of stress and strain on a relationship. In addition, if you have suspicions that your partner is not being fully honest with you about money, it may have an adverse effect on your relationship.
How can you prevent and overcome financial infidelity in your relationship? Read the full article on Home Auto Life’s blog here.