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Nearly One In Three U.S. Adults In A Committed Relationship Has Lied To His Or Her Partner About Spending Habits, New Survey Finds
Survey Commissioned by lawyers.com and REDBOOK Magazine
NEW YORK, NY, October 11, 2005 - Some of today’s cheaters can be found not only in motel rooms but also in shopping malls, as financial deceit becomes a new breed of infidelity.
Nearly one-third (29%) of U.S. adults ages 25 to 55 who are in a committed relationship1 say they have been dishonest with their partner about spending habits, according to a joint survey sponsored by REDBOOK magazine and lawyers.comsm, a free online directory of 440,000 lawyers from LexisNexis® Martindale-Hubbell.
Results of the survey, conducted by Harris Interactive®, appear in the November issue of REDBOOK .
Despite the lack of financial candor among some couples, 24% of all those currently in a relationship say honesty about finances is more important than honesty about fidelity, and 72% say trust is essential to a successful romance.
Women are more likely to be the ones keeping information from their partners (33% women vs. 26% men), the study shows. One possible explanation is that it may be easier for women to hide those extra purchases or overdue bills because they are more likely to be in charge of the household budget (41% of women are responsible for the household budget vs. 21% of men), the survey found.
"Because so many couples now maintain separate banking and credit card accounts, the risk of deceit is even greater," said attorney Alan Kopit, lawyers.com legal editor. "Couples need to establish a financial plan and have open communication about their financial situation. The results of dishonesty can not only result in an emotional disaster, but legal complications as well."
According to Kopit, one partner’s hidden spending can ultimately lead to credit problems that affect both partners. And, without complete financial disclosure, it can be difficult for couples to create effective long-term financial plans.
When cash concerns cause arguments for couples, it’s usually over purchases for themselves (50%), the general household budget (45%), credit card debt (32%) or spending on their children, such as clothing and toys (26%). And when a partner or spouse hides a purchase, it’s most likely for his or her own discretionary spending (20%).
"Women are earning more than ever, but our poll shows that major family money decisions still tend to fall to men," said Alison Brower, REDBOOK's executive editor. "So women are contributing in greater amounts, yet they may not have an equal voice. Over time, this can breed resentment and lead to secrets and lies that can sabotage couples emotionally and financially."
"Many couples find talking with an objective professional – like an attorney or accountant – is a great way to start having honest financial discussions, which is the first step to ensuring a couple is on solid financial footing," Kopit said.
Other Survey Findings:
- Household budgets are women’s purview; investments are men’s: Among those in committed relationships, 41% of women say they control their household budget (vs. 21% men), with men more likely to be in charge of investment decisions (12% women vs. 42% men), debt repayment (22% women vs. 31% men) and retirement savings (14% women vs. 38% men).
- Half of U.S. adults in relationships combine all their bank accounts with their partners: One in two adults in a committed relationship (50%) have only combined bank accounts, 29% say the accounts are both combined and separate, and 18% have entirely separate accounts.
- Unsatisfied significant others are about two to four times less likely to experience financial honesty than their satisfied counterparts.
Survey Sample and Methodology
Harris Interactive® conducted the online survey on behalf of Redbook and lawyers.com between July 29 – August 11, 2005 among 1,796 U.S. adults aged 25-55 who are in a committed relationship (that is, they are currently married, engaged or living with a partner). The data were weighted to be representative of the total U.S. adult population aged 25-55 in a committed relationship on the basis of age within gender, education, household income, race/ethnicity, region and propensity to be online. In theory, with probability samples of this size, one can say with 95 percent certainty that the overall results have a sampling error of plus or minus 2.4 percentage points of what they would be if the entire U.S. adult population aged 25-55 who are in a committed relationship had been polled with complete accuracy. Sampling error for the various sub-samples is higher and varies. This online sample is not a probability sample.
About LexisNexis Martindale-Hubbell
LexisNexis® (www.lexisnexis.com) is a leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based Lexis® and Nexis® research services, the company includes some of the world's most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, JurisClasseur, Abeledo-Perrot and Orac.
Published by LexisNexis Martindale-Hubbell, lawyers.com provides consumers and small businesses access to a free database of more than 440,000 attorneys and law firms nationwide. Martindale-Hubbell (www.martindale.com) is the leading client development company for the legal profession, partnering with its law firm customers to meet their practice development goals. The company offers opportunities to speak at industry conferences, publish legal articles and showcase expertise through a wide range of online products. The Martindale-Hubbell® database of more than 1 million lawyers and law firms, accessible at www.martindale.com and www.lawyers.com, is the number-one lawyer directory on the Internet (as measured by Nielsen//NetRatings). The company provides lawyers, business executives and consumers with detailed information to help them identify, evaluate and select legal counsel.
About REDBOOK
REDBOOK is a women's lifestyle magazine that brings health, relationship, work, home and emotional advice, as well as news about women's choices, opportunities and achievements, to 2.35 million readers every month.
REDBOOK is published by Hearst Magazines, a unit of The Hearst Corporation (www.hearst.com), one of the world's largest publishers of monthly magazines, with a total of 19 U.S. titles and 142 international editions.
Hearst reaches more adults than any other publisher of monthly magazines (76.3 million according to MRI, spring 2005). The company also publishes 19 magazines in the United Kingdom through its wholly owned subsidiary, The National Magazine Company Limited.
About Harris Interactive
Harris Interactive Inc. (www.harrisinteractive.com) is the 13th largest and fastest-growing market research firm in the world, perhaps best known for The Harris Poll® and for pioneering and engineering Internet-based research methods. The Rochester, New York–based global research company blends premier strategic consulting with innovative and efficient methods of investigation, analysis and application, conducting proprietary and public research globally to help clients achieve clear, material and enduring results.
Blending science and art, Harris Interactive® combines its intellectual capital and one of the world’s largest online panels of respondents, with premier Internet survey technology and sophisticated research methods to market leadership through its U.S., Europe (www.harrisinteractive.com/europe) and Asia offices, its wholly owned subsidiary, Novatris in Paris (www.novatris.com), and through an independent global network of affiliate market research companies. EOE M/F/D/V.
1The term "in a committed relationship" refers only to U.S. adults age 25-55 who are currently married, engaged or living with a partner.
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