(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

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

‘Police are ready’ for legal pot, say Canadian chiefs

But Canadians won’t see major policing changes as pot becomes legal

10 things still illegal in the new age of recreational cannabis

Pot is legal – but there are still a lot of rules, and breaking some could leave you in jail

COLUMN: Meet Todd Coyne, our new editor

Todd Coyne takes charge of five Black Press newspapers in the West Kootenay

Denesiuk announced as Liberal nominee for South Okanagan-West Kootenay

Connie Denesiuk ran for the first time in 2015, losing to current MP Cannings

Mellow opening to B.C.’s only legal pot shop

About five people lined up early for the opening of the BC Cannabis Store in Kamloops.

Jagmeet Singh says marijuana pardons are not enough

Trudeau government will streamline pardon process for Canadians convicted of simple possession of marijuana in the past

BC Ferries begins taking debit in two-month pilot project

Company is giving customers option to use Interac on two-month trial on select vessels

Caregivers banned from smoking, growing cannabis around children-in-care: MCFD

Ministry has limited cannabis use for caregivers, stating it may “pose a risk to children and youth.”

Cheaper strains sell out within minutes on online BC Cannabis Store

Province says new strains will become available in the coming months

Only 40% of B.C. car dealerships have electric cars available: report

Researchers found buyers frustrated at the lack of options

VIDEO: Millionaire Lottery returns to give back and win big

Since 1996, Millionaire Lottery has raised $52 million for the VGH+UBC Hospital Foundation

Test case challenges a politician’s right to block people from Twitter account

3 people say Watson infringed their constitutional right to freedom of expression by blocking them

Most Read