NEW YORK — TODAY.com, the online home of America's No. 1 morning program, and SELF, the leading women's well-being magazine, unveiled results of their joint "Financial Infidelity" survey which found that nearly half the respondents acknowledged keeping money secrets from their partner.
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The online "financial infidelity" survey found that 46 percent of people have lied to their partner about money, confessing to a wide range of money secrets, including lying about purchases, hiding them in the back of the closet and clandestinely withdrawing money from joint accounts.
The extensive poll of 23,000 online users also found that more than 60 percent of both men and women think cheating is cheating, whether it's financial or sexual. Two-thirds told us that honesty about money is as important as remaining monogamous. About one-third said financial infidelity can sometimes lead to sexual infidelity.
The survey also found that women are more likely than men to keep money secrets. The most common financial fibs involved shopping, such as pretending something was on sale. A minority – under 10 percent – confessed to more serious spending secrets, including secret bank accounts or hidden credit cards. About 13 percent of respondents said they'd broken up or gotten divorced over secretive spending habits.
"Our survey makes it clear that money can be a huge stumbling block for relationships if couples don't take the time to talk about it frankly," said Martin Wolk, TODAY.com executive business editor. "It's one thing to fib about a new pair of shoes, but keeping serious money secrets from one another - about problems with debt or spending - can be a recipe for disaster."
"Discussing money can be very awkward, but it is important to have this conversation with your partner early on," states SELF Editor-in-Chief, Lucy Danziger. "To have a successful relationship, you need to have trust and hiding money secrets is a huge way to break that confidence. Open up about past debts, then lay some ground rules for the future and have a mutual agreement on your expenses. This openness will save you from many fights in the end and lead to a much healthier relationship."
More than 34 percent of men and women who have kept money secrets say it's because they disagree with their partner about where to spend the money.
HIDE & SEEK
32 percent of women said they have hidden purchases from their partner, compared with only 17 percent of men.
THIS OLD THING?
More than 25 percent of women said they would pretend something was old when it was actually a new purchase, compared with about 8 percent of men.
The poll found that about 70 percent of women and 63 percent of men thought that honesty about money was as important as remaining monogamous. For the full survey results and more information, go to SELF and TODAY.com.
The survey was hosted at TODAY.com and SELF.com Jan. 23-27. A total of 23,230 readers between the ages of 18 and 80, participated in the survey.
TODAY.com is the digital home for America's No. 1 morning program.
TODAY.com is the first stop for consumers interested in news, advice and lifestyle information of all kinds. In addition to interviews and tips from NBC's TODAY, the site offers a behind-the-scenes blog and regular expert columns on everything from food and fashion to parenting and relationships. TODAY.com also offers original web-only reporting and interactive features to help make sense of the latest news and trends. The TODAY app is available on Xbox and the iPad, iPhone and iPod touch. TODAY.com. Don't miss a moment.
SELF is the award-winning, total-well being magazine that incorporates
health and beauty, fitness and nutrition, happiness and personal style, celebrity and sex all in one package. More than 6.5 million readers turn to SELF each month. SELF's Public Relations team can put you in touch with experts in each category to assist with any television segment, feature, news or lifestyle story, guest blogging and more. For press inquiries, please contact us at any time!
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