The National Endowment for Financial Education commissioned the Harris Survey to interview adults who have now or in the past combined finances in a relationship. Forty-three percent admitted they committed some financial deception – from hiding a purchase, bill, or bank account to lying about how much they earned or owed.
Of those surveyed, 47% of men and 39% of women said they had committed financial fraud. When asked why, nearly 40% said that some aspects of their finances should be kept private, even from their partner, while more than 30% said they knew their partner would refuse.
When financial fraud was discovered, 85% said it affected the relationship in a number of ways: from quarreling and less trust to better communication and rapprochement.
Survey methodology
This survey was conducted online in the US by The Harris Poll on behalf of NEFE between June 28-30, 2021 of 2,073 adults ages 18 and older, 1,248 of whom said they had ever combined finances with a spouse or partner. Of those who reported ever pooling their finances with a spouse or domestic partner, 555 reported having committed financial deception while 650 reported that they or their spouse / partner had committed financial deception. The results were weighted by age by gender, region, race / ethnicity, income and education to bring them in line with their actual proportions in the population. The weight of the inclination points was also used to adjust respondents’ propensity to be online.
Main results
Always combined finances
61% of US adults have ever combined finances in a current / previous relationship while 39% have not.
Financial Deceptions-Self
Among those who have ever combined finances in a current / past relationship, about two in five Americans (43%) have committed a listed financial deception in a current / past relationship.
- More than a third (39%) hid a purchase / bank account / bank statement / invoice / cash from a partner / spouse
- 19% have hidden cash from a spouse / partner
- 18% hid a small purchase from a spouse / partner
- 13% hid a statement / invoice from a spouse / partner
- 11% have a bank account hidden from a spouse / partner
- 9% hid a major purchase from a spouse / partner
- 12% lied to spouses / partners about finances
- 10% lied to spouses / partners about how much money they make (ed)
- 10% lied to spouse / partner about the amount of debt they owe (d)
- Approximately one in five (21%) lied about finances / debt / money they earned from a partner / spouse
Reasons for financial fraud committed are listed
Among those who have ever combined finances in a current / past relationship and committed listed financial deceptions in current / past relationships …
- About two in five (38%) said they believe some aspects of their finances should be kept private, even from their spouse / partner
- A third (34%) said they had talked to their spouse / partner about finances and knew they would refuse
- A third (33%) were embarrassed / anxious about their finances and didn’t want their spouse / partner to know about it
- 27% said that while they hadn’t discussed finances with their spouse / partner, they feared they would refuse
- 8% said they did this for a different reason, while 4% disagreed
Financial fraud spouse / partner
Among those who have ever combined finances in a current / past relationship, about two in five Americans (42%) reported that a spouse / partner committed a listed financial deception
- More than a third (36%) said that a spouse / partner hid a purchase / bank account / statement / bill / cash from them
- 15% said that a spouse / partner hid a major purchase from them
- 14% said that a spouse / partner hid a small purchase from them
- 14% said that a spouse / partner hid a statement / invoice from them
- 14% said a spouse / partner hid cash from them
- 11% said that a spouse / partner hid a bank account from them
- 13% said a spouse / partner lied to them about finances
- 11% said that a spouse / partner lied to them about the amount of their debt (d)
- 9% said a spouse / partner lied to them about the money they make.
- Almost a quarter (24%) said a spouse / partner lied to them about finances / debt / money made
Effects of Financial Fraud
Among those who have ever combined the finances in a current / past relationship and committed the financial deception and / or their partner / spouse committed financial deception.
- Over four in five (85%) said the financial deceptions had in some way impacted current / past relationships
- Two in five (42%) said it caused an argument
- A third (32%) said it caused less trust in the relationship
- 20% felt that this created less privacy in the relationship
- 19% said this caused them to approach / grow together
- 16% said this led to the separation of the combined finances
- 16% said that they communicated proactively as a result
- 16% said it ultimately led to a divorce
- 13% said it led to a breakup as a couple
- 0% said it had a different effect
- 15% said it didn’t affect the relationship
Changes due to financial fraud
Among those who have ever combined the finances in a current / past relationship and committed the financial deception and / or their partner / spouse committed financial deception.
- Four in five (81%) said financial deception is a problem in their current relationship, and among these …
- Almost two-thirds (64%) have chosen to change the way they and their spouse / partner manage their finances
- A third (34%) chose to be more open about finance
- 27% have decided to draw up a joint budget
- 21% have chosen to keep separate accounts
- 15% set out to do something else related to finance
- 18% did not decide to change the finances between them and their spouse / partner
- 7% think they probably should even though they didn’t
- 11% see no need
Have you ever kept / lied / deceived your current spouse / partner about anything other than finances?
Of those who have ever combined their finances in a current / past relationship, 30% have ever kept, lied to, or deceived some significant secret from their current partner or spouse about anything other than finances.
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