Even though people know it can ruin relationships, couples still lie about money. The American Institute of Certified Public Accountants surveyed 1,000 adults and found three in 10 who are married or living with a partner admit to financial infidelity, from hiding purchases to buying big-ticket items without discussing it first. Some 7% of respondents have kept a work bonus or lottery winnings secret and 4% have hidden savings or retirement accounts. Of all the reasons couples fight, 27% said they fight about money more than any other issue, including children and work. To keep financial peace, the report suggests couples fully disclose their credit card statements, credit reports and bank accounts. Splitting the financial responsibilities could help keep a sense of balance, the report added.
The United State is not near the top of this list.
Organizations in the mix include Sun Life U.S., LifeQuotes.com, Allsup, Cigna and MetLife.
Rushing around without the right information can become a habit.
Sponsored by Fidelity Investments
Get insights into the mindset that’s driving today’s advisors to make a move--and help realize their unique business vision.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.