Unfaithfully Yours: What money secrets is your spouse hiding from you?

3/17/2013

Think your spouse is being completely honest about his or her finances? Think again.

A survey conducted by TD Ameritrade and personal finance site LearnVest suggests that many Americans don't know as much as they should about their partners' credit history -- or their "credit present." According to the survey, a solid 38 percent of people in live-in relationships admitted they weren't entirely aware of how much debt their partner was carrying.

Another finding confirms that people are indeed withholding some information about their finances, with 21 percent of survey respondents admitting that they aren't always up front about their spending habits. No wonder, then, that 40 percent of those surveyed said they don't completely trust their partner to manage their combined finances.

In a statement accompanying the study, Carrie Braxdale of Ameritrade points out that as people get married later and later in life, combining financial lives is getting trickier.

"Couples are bringing more financial baggage into the relationship than ever before," she writes. "They have 401(k)s, student loan debt, investments and even mortgages. So, it's more important than ever for couples to talk about their finances and work together to develop a plan."


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