Survey: Financial White Lies Can Be Disastrous To Marriage - - ABC13

Survey: Financial White Lies Can Be Disastrous To Marriage

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Have you ever hid a credit card, downplayed your debt, or fibbed a little about how much you make?  From your spouse?  Love and money experts say those little white lies can be disastrous for your relationship.

A recent survey found that not all couples are in sync financially.  And that can lead down a path of trouble. The survey revealed that:

  • 31% of Americans who have combined their finances say they've lied to their spouse about money.
  • 67% of those say it caused arguments.
  • 16% broke up as a result.

Many of those lies are about debt.. a potential marriage destroyer.  Research from Utah State University shows thrifty couples are happiest and too much debt can ruin a marriage. Professor Jeffrey Dew says, "Couples with consumer debt tend to fight more.  They are more stressed about their money and some recent research that I have done even shows that consumer debt is associated with divorce."

He says a couple with $10,000 in debt and no savings is about twice as likely to divorce as a couple with $10,000 in savings and no credit card debt.

That's a good example that when couples can take the financial pressures off their relationship, they're able to focus on each other and not their money problems.

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