19th October 2015
Money can be a problematic issue for many couples but a new study shows that almost half of people, at 42%, lie to their partner about their spending.
The analysis from AA Credit Cards, also found that 13% ‘don’t lie’ but instead keep their spending a secret.
Some 35% of respondents were most likely to be economical about the truth in regards to how much they spent on clothes, while 29% were less than open when it came to splashing out on their hobbies.
Another 21% were not forthcoming about nights out, while 17% and 15% respectively kept beauty products and gadget purchases to themselves.
Other guilty purchases include food, accessories, car costs and even bills.
Secret spenders have tried out various strategies to get away with what their partner might consider to be overspending. More than a quarter pretended their purchases were cheaper than they really were while over a fifth glossed over the price of the item and hoped they’d get away with it. Some 12% hid their guilty purchases.
The most common reason for being dishonest about expenditure is because their partner does not agree with frivolous spending as cited by a third of respondents.
Notably 22% said they and their partner have different views on money and a similar number said their partner would prefer them to save their money instead.
Kathryn Thomas, director of AA Financial Services said: “Most people will have told a white lie at some point about how much something cost, but for some people it is obviously more habitual. Hiding expensive purchases shows it’s quite a serious issue – couples would likely benefit from sitting down to discuss their finances with each other and try to work out their differences before unexplained debt becomes a real issue.
“Our research showed that younger and better off respondents are slightly more likely to be dishonest about their spending. Nationwide both men and women are equally likely to be secret shoppers – they just spend their money on different things.”