Dave’s Diary: Follow The Money in Marriage
I promise to tell the truth, the whole truth and nothing but the…wait a minute….not ALL married couples are ALWAYS honest are they? Obviously not and a 2011 Lawyers.com Couples & Money Survey conducted by Harris Interactive reveals money is a bigger problem that fidelity! In fact, 40% of Americans ages 25 to 55 who are in committed relationships say honesty about finances is more important than honesty about fidelity.
But importance noted does not always translate into action taken and a full 30% admit they have withheld information from their spouse or partner regarding spending on discretionary items, such as apparel, accessories, electronics and entertainment.
Where the whoppers lie is in the pay stub…the biggest lie of all is the amount of money we make and men are nearly twice as likely as women to say that they have withheld information from their spouse or partner regarding their salary (11% vs. 6%).
The survey also points out that if we could go back in time, these are the changes we would make:
- 64% would put more money into savings.
- 49% would spend money more responsibly.
- 46% would put more money into retirement accounts.
- 36% would put more money into investments, such as stocks, bonds and mutual funds.
- 21% would discuss financial goals and expectations earlier in their relationship.
- 10% would be more honest with their spouse or partner about their spending.