CreditCards.com Survey Finds Many Couples Are Being Unfaithful When It Comes To Money

According to the survey, 40% of Americans admit to committing financial infidelity. Read more: https://cbsloc.al/37FQWdx

Video Transcript

- It's your money. And a new survey finds many couples are being unfaithful when it comes to money.

- Some are committing financial infidelity. CBS 4's Dawn Yabaka shows you how.

DAWN YABAKA: Stephon and Christina Chaney were married for a couple of years before they sat down and talked seriously about finances.

CHRISTINA CHANEY: I am spending how much on coffee and you're spending how much on lunch?

DAWN YABAKA: They decided to make monthly budget. But sometimes, there's a little cheating.

When you hear the term financial infidelity, what do you think of that term?

STEPHON CHANEY: I love that term.

CHRISTINA CHANEY: Yeah.

STEPHON CHANEY: When I see a transaction in the account and we both have agreed on certain budgets, right, and I see something that has exceeded that, I'm like, this woman has betrayed me, right?

DAWN YABAKA: In a new survey from CreditCards.com, 40% of Americans admit committing financial infidelity. The most common offense is spending more money than their partner would be OK with. Others have secret credit cards or secret bank accounts.

TED ROSSMAN: The most common reason people gave us was that they want privacy. They want to manage their own money.

DAWN YABAKA: Ted Rossman from CreditCards.com says millennials are the most likely to commit financial infidelity and it can often lead to a sense of betrayal.

TED ROSSMAN: You think, hey, I really thought I knew this person. And they've been keeping the secret for so long. And chances are, they're going to find out about it at some point. So I think communicating early and often is a good idea.

DAWN YABAKA: The Chaneys say it's important to be open about spending.

CHRISTINA CHANEY: It's about just mutual respect and agreement and being on the same page.

STEPHON CHANEY: Accountability.

DAWN YABAKA: And that's kept their marriage on the same page too. Dawn Yabaka, CBS News, Los Angeles.