Should we include little white lies among the partridges, drummers, gold rings, and turtle doves in the days leading up to Christmas? A new study conducted by the McGraw Hill Federal Credit Union seems to suggest that fiscal fibbing is becoming a holiday tradition.
As reported by Chuck Jaffe for MarketWatch, the aforementioned look at seasonal spending included some 1,000 couples. Both heterosexual and same-sex couples were included, as well as those divorced but remarried or in a new relationship. Of the diverse group, a whopping 25% admitted to lying between partners about holiday spending. An even greater 40% reported general disagreements on seasonal budgets.
More troublesome, one in ten of the couples polled reported the existence of a secret credit card under one partner’s name, of which his or her spouse had no knowledge. Far beyond a little stash at the back of a closet, such behaviors can lead to big trouble long after taking down the tree.
To that point, Shawn Gilfedder, President of the McGraw Hill FCU, explains, “It’s a sign that you have a problem and the problem is probably a lot bigger than managing your budget. Take this study one step further and you know that, of married couples, about half of them aren’t going to make it for various reasons, and that financial issues often rise to the top of that list of reasons.”
Color us informed and forewarned. Here’s to open dialogues on the issue of holiday spending. …Of course, we presume a little seasonal secrecy is still permitted when it pertains to a gift for the loved one in question. Click here for more on the story.
Images via SheKnows.com and RedbookMag.com.