(Wikimedia Commons)

(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

(Facebook/Kelowna Cabs)
Kelowna Cabs reaches tentative agreement with dispatchers union

The tentative agreement could help end the dispute between the taxi company and the dispatchers

sdaf
Lake Country home destroyed in large blaze, 11 dogs rescued

Fire crews are responding to 10839 Hallam Drive

Festivals Kelowna president Richard Groves and executive director Renata Mills wrap themselves in the flag during the announcement of preparations for the 2018 Canada Day festival. (Alistair Waters/Capital News)
Festivals Kelowna cancels Canada Day celebrations for second year in a row

The group cited logistic issues in their announcement

Central Okanagan Public Schools is assisting with the distribution of a donation of $500 to every Grade 12 graduating student in the school district. (File photo)
Central Okanagan Grade 12 grads get $500 surprise

Anonymous donor gifts $500 to every Grade 12 student

A vehicle was fully engulfed in flames before around 11:10 p.m. Wednesday, June 16, 2021. (Kerry Hutter - contributed)
UPDATE: Kelowna man cuffed after carjacking in Vernon

Crime spree: Man robs couple at Coldstream lookout at gunpoint, sets a vehicle ablaze

Bear wanders Kelowna on June 15. (Michelle Wallace/Facebook)
Bear climbs fence, uses crosswalk in Kelowna

The bear was spotted on Baron Road Wednesday evening

Jeanette Megens
KCR: Volunteering is sharing your story

Kelowna Community Resources shares stories of its volunteers in a weekly column

This photo of the small wildfire burning above Naramata was taken at 8 p.m. on Thursday, June 17, 2021 (Monique Tamminga Western News)
BC Wildfire on scene of small wildfire above Naramata

Smoke has been showing since earlier in the day

Students in the Grade 10 entrepreneurship program at Summerland Unisus School have completed a cookbook with international recipes. (Contributed)
Summerland students create virtual international cookbook

Entrepreneurship program at Summerland Unisus School uses virtual cookbook as fundraiser

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Hundreds of people, young and old, joined the three-day Walking Our Spirits Home procession, honouring residential school survivors, those who never made it home and all those affected by the institutions. Here people walk the third portion on June 13. (Martha Wickett - Salmon Arm Observer)
Walking Our Spirits Home from Kamloops provides path to healing

First Nations in and beyond Secwépemc territory join in to honour residential school survivors

FILE – A science class at L.A. Matheson Secondary in Surrey, B.C. on March 12, 2021. (Lauren Collins/Surrey Now Leader)
Teachers’ union wants more COVID transmission data as B.C. prepares for back-to-school

BCTF says that details will be important as province works on plan for September

201 First Street West 1980s. Prior revitalization. (Photo from Revelstoke Museum and Archives)
Man who redesigned downtown Revelstoke honoured with lifetime achievement award

Robert Inwood has worked on historical projects across the province

Provincial health officer Dr. Bonnie Henry outlines B.C.’s COVID-19 restart plan, May 25, 2021, including larger gatherings and a possible easing of mandatory masks on July 1. (B.C. government photo)
B.C. records 120 new COVID-19 cases, second vaccines accelerating

Lower Pfizer deliveries for early July, Moderna shipments up

Most Read