Survey Reveals Surprising Statistics about Credit Card Usage and Marriage
Are you being completely honest with your spouse regarding your credit card spending habits? If not, you’re not alone!
A surprising, recent survey of 200 Americans by a nonprofit agency, CESI Debt Solutions, revealed that 80 percent of married couples spend secretly on their credit cards. In addition, the survey found that almost 19 percent of married couples have credit cards of which their spouse is not even aware!
Most shocking, however, is that 38 percent of married people are worried that the revelation of their credit card spending would cause their spouse to seek a separation or divorce.
Secret Spending
What are married couples purchasing in secret? Nearly 35 percent of the individuals surveyed say they are buying clothing and accessories; 24 percent spend money on food and dining; nearly 20 percent buy beauty and personal care items on the sly; and almost 17 percent use their secret spending habits to buy gifts.
The survey revealed that nearly 60 percent of married couples keep their spending secret because they wanted to avoid problems in the marriage. Of the married couples spending in secret, 46 percent plan on paying off the debt before their spouse finds out and 11 percent plan on telling their spouse, but they just aren’t ready to do it yet. Finally, 27 percent of the married individuals surveyed say they will never tell their spouse about their spending.
The Consequences of Secret Spending
If you find yourself spending and keeping the purchases from your spouse, you may soon find yourself in a difficult financial situation that could jeopardize not only your credit, but your spouse’s credit, as well.
The best rule of thumb is to approach your spouse and work together to find a solution. If you think you have spending problems, it is also a good idea to contact a non-profit debt counseling service. In the end, credit card balances have a way of sneaking up on us, when we least expect it. Stopping the spending now and remaining open and honest with your spouse will help alleviate much of the financial problems experienced among married couples these days.
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