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People lie about money to their partner

People lie about money to their partner
Highlights

People Lie About Money To Their Partner

Washington: A new study has claimed that 33 percent of people with combined finances have lied to their partner about money.
What's more, 35 percent have been financially deceived by a partner, according to the survey of 2,035 US adults by the National Endowment for Financial Education (NEFE).
Those numbers are up ever so slightly from NEFE's 2011 assessment, in which one in three Americans (31 percent) admitted to lying to their spouses about money, and 33 percent said they had been financially deceived.
Ted Beck, NEFE's president and CEO told CNBC that one might think that with the recession, people are talking to each other more about money, but people are continuing bad habits.
For most of the couples, the financial lies took a toll on the relationship.
Three quarters (76 percent) of those who experienced financial infidelity said the lies affected the relationship in some way, with almost half (47 percent) admitting it caused an argument and one third (33 percent) reporting that it had resulted in less trust in the relationship.
Ten percent of respondents said that the deception ultimately resulted in divorce.


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