Secret spending could lead to divorce: study says

Secret spending could lead to divorce: study says

Secret shopaholics enjoy a love/hate relationship with their credit cards. While the thrill of making that spur of the moment purchase may deftly be hidden from an unsuspecting spouse, it can lead to problems in the marriage if financial troubles occur. The old adage, “money is the root of all evil” is more than just a saying in these circumstances. It has long been said that financial discord can lead to divorce. Now there is a survey that supports this notion.

According to Moneysupermarket.com, one in ten people have admitted that clandestine credit card purchases have led to a divorce. The most common reason the spenders gave for such deception was that they were afraid that their spouses would be angry with them. Others said they kept their purchases hidden because they knew their mates would disapprove.

Financial infidelity (in some relationships) is just as hurtful as physical unfaithfulness. Aside from the hurt and anger a spouse may feel, there could be genuine financial consequences in the event of a divorce. A frivolous spouse could be seen as wasting marital assets, and could be held responsible for paying back the debt created through such spending.

Because of this, it is prudent for those who suspect that their spouse is cheating (with a credit card or another person) to keep track of credit card statements. In the meantime, another interesting fact came out of the Moneysupermarket.com survey. While women were more likely to hide purchases from their spouses, men were more likely to spend more with secret shopping sprees.

Source: HuffingtonPost.com, Secret credit card spending and divorce linked in survey, October 14, 2013

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