How Honest Are You About Finances?
Couples own up to their money problems and issues
As the saying goes, money is the root of all evil. And that can include being a sore subject in relationships - especially between spouses or partners. So are you truthful with your significant other about how you handle your finances? And are younger couples and older couples equally open about their finances?
See also: 10 simple ways to save money — now!
The AARP Bulletin teamed up with the independent research firm ORC International for a national poll of people with spouses or partners on financial honesty. Here are the results.
| Which of the following types of bank accounts do you and your spouse/partner have? | ||
| Age: 18-49 | 50+ | |
| Joint account(s) only | 46% | 54% |
| Separate account(s) only | 25 | 12 |
| Joint and separate accounts | 29 | 34 |
| Do you have a bank account that your spouse/partner does not know about? | ||
| Ages: 18-49 | 50+ | |
| Yes | 7% | 4% |
| No | 93 | 96 |
| You say that you don't have a bank account that your spouse/partner doesn't know about. Do you personally know anyone who does keep a secret account? | ||
| Ages: 18-49 | 50+ | |
| Yes | 20% | 11% |
| No | 80 | 89 |
| Within the past 12 months, have you hidden any purchases from your spouse/partner? | ||
| Ages: 18-49 | 50+ | |
| Yes | 23% | 12% |
| No | 77 | 88 |
| Have you ever hidden any purchases from your spouse/partner? | ||
| Ages: 18-49 | 50+ | |
| Yes | 24% | 24% |
| No | 76 | 76 |
| In the past 12 months, have you withheld information from your spouse/partner about any of these? | ||
| Ages: 18-49 | 50+ | |
| Amount of your debt | 10% |
3% |
| Amount of money you make | 5 | 1 |
| Amount you spend from joint accounts on personal purchases | 7 | 2 |
| Amount of your credit card purchases | 10 | 3 |
| Lending money to a friend/family member | 9 | 6 |
| None of these | 73 | 88 |
Study of 1,263 adults age 18 and over conducted by ORC International, Aug. 20-22 and 23-26, 2012.