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Couples Happier Than Ever, but Financial Secrets at an All Time High

Stockhouse Editorial
1 Comment| February 9, 2022

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Love is in the air with Valentine’s Day just around the corner, but a new survey from one of the top banks found that people may be contradicting themselves when it comes to how they feel about their partners’ financial well-being and behaviors.

In TD Bank’s (TSX: TD, Forum) annual “Love and Money” survey, nearly one-third of Americans (32%) responded that they are keeping a financial secret from their partner, an 11% increase from 2021. Despite this increase, 75% of Americans are happy in their relationships, up 7% from 2021, revealing that many could be hiding their financial behaviors to maintain their relationship bliss.

50% have no intention of ever disclosing this information with their significant other, and 76% of Americans have no plans to share their secrets with anyone.

The survey also found that the most common financial secret people keep is regarding a big purchase (40% of those who have a secret), followed by significant credit card debt (18%) and a secret bank account (13%). Notably, 50% of partners in unhappy relationships are keeping a secret, while 32% in a happy relationship are keeping one.

Speaking on these findings, TD’s Head of Consumer Deposits, Products and Payments, Alissa Van Volkom said that the contrast between how many individuals are keeping secrets and how happy they are in their relationships presents an interesting dynamic. People are talking the talk, but not always walking the walk.

“This highlights how important it is for couples to not only remain honest and open about their money fears, but also to align on financial expectations and set boundaries early on before they steer too far from a happy and financially healthy relationship. The earlier concerns are addressed, the better couples are set to achieve their long-term goals.”

What about you? Are you totally upfront on your financial situation with your lover? If not, probably best not to say anything incriminating in the comments below.



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