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New survey links credit card spending and divorce

Many people enjoy shopping. Some may enjoy it too much, though, and their credit card bills may be piling up, much to their spouse's dismay. However, many husbands and wives hide purchases from each other, and a new study shows that this may not be the best thing for a marriage.

According to a new study by Moneysupermarket.com, 1 in 10 people admit that secret credit card purchases had an impact in their divorce or separation. Moneysupermarket.com is a price comparison web site. The site polled 1,000 men and women and found that 36 percent of people who lied about their spending did so because they knew their spouse would be mad. Thirty-five percent said they hid their purchases because they knew their significant other would disapprove.

This isn't the first instance a study or survey found a link between divorce and financial differences. In July 2013, researchers from Kansas State University found that quarreling about money is the top forecaster of divorce. In 2011, a study conducted by the National Endowment for Financial Education found that 68 percent of the time, financial disloyalty had a negative impact on relationships, with 16 percent of marriages dissolving because of it.

In the Moneysupermarket.com study, 50 percent of the people confessed to treating themselves on things like new shoes and clothes using their credit card. The same number said they were using their credit card for living expenses, including food, utility bills, rent and gasoline.

Another interesting discovery is that while women were 60 percent more likely to hide a credit card bill from their spouse and admitted harboring more guilt for doing so. It was the men who spent more on average.

Money issues are never an easy topic to discuss between spouses. It is best not to hide things from a significant other since communication is vital in relationships. It is prudent for any person facing divorce to find an attorney experienced in and will address the difficult issues that come up. Minnesota divorce attorneys will be able to guide you towards a satisfactory resolution to this personal and legal matter.


Source: 
huffingtonpost.com, "Secret Credit Card Spending And Divorce Linked In New Survey" No author given, Oct. 14, 2013

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