Credit Cards Blog

Finance Blogs » Credit Cards » Are you financially faithful?

Are you financially faithful?

By Lucy Lazarony ·
Monday, February 14, 2011
Posted: 2 pm ET

Are you being honest with your spouse about your spending and your credit cards?

A nationwide survey conducted by CESI Debt Solutions, a nonprofit organization dedicated to debt-free living, found that 80 percent of married couples spent secret money and more than 18 percent had a secret credit card.

Does your significant other know about each and every credit card in your wallet?  Are you upfront with your spouse about your credit card spending?

Do you and your spouse see eye to eye about money?  Do you combine your checking and credit card accounts or keep separate accounts?

Thirty-one percent of Americans with combined finances have lied to their spouses or partners about money, according to a recent Harris Interactive survey commissioned by the National Endowment for Financial Education and

Of the Americans who admitted to lying about money, 58 percent hid cash; 54 percent hid a minor purchase; 30 percent hid a statement or bill from a spouse or partner and 34 percent lied about finances, debt and money earned. (Respondents to the survey could choose multiple answers.)

"Couples should talk openly about money, and do so early in the relationship," says Ted Beck, president of the National Endowment for Financial Education.  "Each person should understand their partner's values about money. In doing so, they have a better chance to build a more stable relationship, both emotionally and financially."

Wondering just how compatible you and your significant other really are when it comes to money?  These six questions will help you find out.

Need to have a heart-to-heart with your honey about money?   It's a good idea to have this talk before you say, "I do." These tips will help you get the conversation started.

Are you and your spouse continuing to have conflicts over money and spending?  It's important to fight fair.  These tips will show you how to keep things civil as you resolve sticky financial situations.

Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
1 Comment
Erica R.
February 14, 2011 at 2:50 pm

I find it shocking that so many couples keep financial secrets from each other! My husband and I even know in advance how much the other is spending for holidays, birthdays, etc, as we work together to set a reasonable spending limit.

I couldn't fathom keeping the cost of a lunch secret from my husband, never mind an entire credit card. As a married couple we are a united front, and I would never let money divide that.