A new study found that 43% of adults have financially cheated on a current or past partner.
The Harris Poll conducted a survey on behalf of the National Endowment for Financial Education and determined that in relationships where couples share finances, 43% admit to financially cheating on a partner. The poll found that 43% admitted to committing a financial deception, 39% admitted to hiding a bill, bank statement, bank account, purchase or cash, and 21% lied about debt, earnings, or finances.
Additionally, around 16% of people admitted that they have further deceived their partner by lying about the amount of debt they had or the amount of money they make.
Of those surveyed, 32% feel that they should be able to maintain privacy in certain areas of their life, even from their partner. 30% felt fearful of having financial discussions because of their partner’s poor reaction during past discussions. Similarly, 25% felt embarrassed or ashamed and didn’t want their partner finding out.
Bill Hensley, the CEO and president of the National Endowment for Financial Education said that faulty assumptions about money can make conversations around debt, spending, and saving uncomfortable.
“As a society, we talk about money with the assumption that everyone starts at the same place in terms of understanding, and that is very untrue,” he said. “At the foundation of it is that we don’t provide enough financial education in schools or in any other venues so people have the confidence necessary to approach these topics early on.”
ARTICLE: RITA VOGT
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: CNBC
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