Love may be in the air this month… and as we draw closer to Valentine’s Day, we are left wondering how many people are holding back serious financial information from their significant others? I recently read an article from USA Today, where personal finance reporter Jessica Menton talks about hidden accounts, secret debts, and quiet overspending and asks the following question: “Why are we hiding our personal finances from loved ones?” Menton states that: “About 44% of U.S. adults admit to either hiding a bank account or debt or to spending more money than their partner would be comfortable with.” Additionally, about 17% of those surveyed admit to keeping a secret account. In this Money Hacks episode, I talk about financial “infidelity” in relationships, why it’s probably a bad idea, and some tips we think to avoid these money-relationship hurdles.
Any money questions you’d like answered? Our Money Hacks series is created from conversations we have with employees, investors, savers, and all people planning for their financial futures. What topics are on your mind for our next episode? Email us here!