A record 1 and 3 American couples are cheating, according to a new study-- just not the way you’d think.
Rather than sexual or emotional infidelity, couples are cheating financially at a higher rate than ever before. The emotional and economic effects of bad or deceitful money management can be just as damaging as the betrayal couples feel in the case of sexual infidelity.
From secret credit card spending on extravagant luxuries to even addictions, couples are said to be significantly secretive, creating strains in relationships, some of which even end in divorce. Spouses are often caught in their financial infidelity during critical turning points such as finding out your partner has a bad credit score in the midst of joint mortgage application or your spouse maxes out their credit cards or misses payments.
Seventy-six percent of respondents to a National Endowment for Financial Education (NEFE) study say financial cheating by a spouse has hurt their relationship, 10 percent said it ultimately led to divorce, and 8 percent blamed it for a separation. And apparently financial cheating has worsened as the study revealed an increase of 31 percent in late 2010 to 33 percent today.
Do you financial cheat on your spouse? How important is transparency in your relationship as it relates to your finances?
(Photo: Chemistry/Getty Images)