'Financial infidelity' is on the rise: report - WSIL-TV 3 Southern Illinois

'Financial infidelity' is on the rise: report

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WSIL -- Valentine's Day is next week and while the holiday may have you feeling romantic, a new study may not.

The report finds people in committed relationships are keeping financial secrets from each other. Some are hiding bank accounts or credit cards from their significant others. According to creditcards.com nearly 30 million people in live-in relationships are committing "financial infidelity".

Experts agree that withholding important financial information from your partner signals a lack of trust. And if one's partner is hiding credit card debt, he or she may be hiding other things as well.

According to the report, millennials are the most likely to lie about their spending, debt, and accounts. 28-percent of them admitted to hiding an account from their partners. Researchers say the reason is because people want to have a safety net in case the relationship turns sour. 

According to the report, 20-percent of people surveyed say having a secret account is worse than having an affair. 2-percent of those surveyed would break up with someone if they discovered they had $5,000 in credit card debt.

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