34% of Couples Will Lie About Their Holiday Spending

3ocwla

With the holiday season upon us, some couples are more likely than others to feel anxiety and fear around holiday spending.

These feelings can lead to damaging behavior in the relationship, including lying to our spouse about our spending habits.

According to a McGraw-Hill Federal Credit Union (MFCU) study, approximately 34 percent of married couples will be less than truthful with their partner about all of their holiday spending.

“Forty-eight percent of couples

disagree over holiday spending.”

According to MFCU President and CEO Shawn Gilfedder, “We find that some couples go into defense mode and avoid difficult yet necessary financial conversations. Avoiding money talk can create tension in relationships that only honest communication and financial education can heal.”

Further, couples who disagree about their finances regularly – meaning at least once a week – are 30 percent more likely to get divorced than couples who disagree infrequently.

Fights that occur several times a week increase the risk of divorce by up to 160 percent.

“While everyday financial challenges can lead to miscommunication, procrastination and ultimately some level of anxiety, true financial wellness requires discipline and honesty between both partners in order to ensure harmony,” Gilfedder said.

I could not agree more. Setting aside a specific time to discuss finances and spending on a regular basis is a key ingredient to a good relationship and good financial health.

Source: mainstreet.com. Photo Source: www.huffingtonpost.com

Advertiser Disclosure

BadCredit.org is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free for users, we receive advertising compensation from the financial products listed on this page. Along with key review factors, this compensation may impact how and where products appear on the page (including, for example, the order in which they appear). BadCredit.org does not include listings for all financial products.

Our Editorial Review Policy

Our site is committed to publishing independent, accurate content guided by strict editorial guidelines. Before articles and reviews are published on our site, they undergo a thorough review process performed by a team of independent editors and subject-matter experts to ensure the content’s accuracy, timeliness, and impartiality. Our editorial team is separate and independent of our site’s advertisers, and the opinions they express on our site are their own. To read more about our team members and their editorial backgrounds, please visit our site’s About page.