(Wikimedia Commons)

36 per cent of Canadians surveyed lied about financial matter to partner: poll

Survey found participants aged 18 to 34 were more likely to be victims of financial infidelity — at 47 per cent

As Valentine’s Day approaches, a new survey suggests some Canadians planning to take their relationships to the next level may want to have a frank conversation about infidelity — financial infidelity, that is.

The online poll found 36 per cent of Canadians surveyed have lied about a financial matter to a romantic partner, and the same number of participants had been victims of financial infidelity from a current or former partner.

The Leger survey for Credit Canada and the Financial Planning Standards Council also found 34 per cent of those polled keep financial secrets from their current romantic partner.

“We wanted to understand what’s on the hearts and minds of Canadians at this time of the year, as it tends to be a time when people are talking about being in a relationship,” said Kelley Keehn, a personal finance educator and consumer advocate for the council, which helped create the survey.

“We’re hoping that the takeaway is if you are one of those Canadians who are struggling, you are suffering in silence, it’s affecting your marriage, maybe your health, that you’re reaching out to someone like a certified financial planner or a non-profit credit counsellor.”

Keehn said financial infidelity is generally defined as dishonesty in a relationship when it comes to money, but she noted that the term is vague and “it requires you (as a couple) to define what that means.”

“If you have separate accounts in your relationship and you both discussed openly that your money is your money and their money is their money, and you’re free to do anything that you want, then spending and saving and not telling the other person wouldn’t be an infidelity,” she said.

“But if both of you agree to be on the same page and share purchases over $100 and then you went behind the other person’s back, now that would qualify as a financial infidelity.”

The online survey polled 1,550 Canadians between Jan. 2 and Jan. 5. The polling industry’s professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.

The survey found participants aged 18 to 34 were more likely to be victims of financial infidelity — at 47 per cent — than those aged 65 and older, at 18 per cent.

The poll suggests, however, that gender and income level do not play a significant role.

It found 35 per cent of men surveyed and 37 per cent of female participants said they experienced financial deception from a partner, while 36 per cent of men and women polled said they have lied about a financial matter to a partner.

Survey respondents were also asked about the worst form of financial deception they experienced from a former or current partner, with the most common offence being running up a credit card without informing a partner. Other answers included “lied about income,” “made a major purchase without telling me” and “went bankrupt without informing me.”

Keehn said the issue of financial infidelity is nothing new, but added that with employment becoming more precarious, it’s important for couples to be open about their finances. While discussing financial matters can be awkward, the sooner couples talk about it, the better, she said.

Keehn advised people in new relationships to discuss what their financial goals are to better understand if they share the same attitudes toward money. For couples struggling with finances, she suggested contacting a financial planner or researching classes on financial planning.

She also stressed that conversations about money should happen on a regular basis.

“Like with your health, you don’t go to the gym once, you don’t have a salad once, it’s the same with your money. You don’t just have one conversation about money and that’s it.”

Daniela Germano , The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

DESIGN AN AD: Langley kids’ creativity pulls on heart strings

The insightfulness and attention to details captured in kids’ ads is ‘mind-blowing’ to adults.

PHOTOS: Grieving Langley widower, with teen boy, shares a story of angels

Walnut Grove’s Rick Rozdeba’s hospice story evoked tears and brought the crowd to its feet.

Fort Langley is open for business

Challenges abound, but local merchants are looking forward to summer.

Chilliwack RCMP seek shoplifting suspect caught on video

Man allegedly connected to automobile theft in Abbotsford, shoplifting in Langley

RCMP seeks dash cam footage in Cloverdale hit and run

RCMP believe same Acura TL involved in two accidents within minutes of each other

VIDEO: B.C. man recognized for spinning basketball on toothbrush

Abbotsford man holds world record for longest duration of time of 60.5 seconds

Former Social Credit MLA dies at 88

Lyall Hanson was mayor of Vernon in 1981 and moved to provincial politics from 1986-96

The simple beauty of a barn

Architect’s labour of love wins award from Architecture Institute of BC

B.C. set to introduce pot laws, but years of fine tuning likely: minister

Legislation regulating recreational marijuana is expected to be introduced Thursday

Canadian driver uses lawn chair as driver’s seat, gets caught

Ontario police detachment caught the male driver during a traffic stop

B.C. moves to restrict pill presses in opioid battle

Minister Mike Farnworth says federal law doesn’t go far enough

UPDATE: 83-year-old convicted murderer back in custody

RCMP have captured Ralph Whitfield Morris who escaped from Mission Institution

VIDEO: Vets, volunteers set up vaccination station for sick bunnies

Volunteers, vets try to stop spread of lethal virus

If you see a dog in a hot car, don’t break in: SPCA

People are being discouraged from smashing windows to free animals. The SPCA has tips on what else you can do.

Most Read