Financial Infidelity And Divorce: New Study Shows Link
Does financial infidelity cause divorce? The 'Today' show tackled the question this morning in a segment dedicated to the subject of cheating on one's spouse--with cash and credit cards, that is.
Host Ann Curry chatted with financial expert Jean Chatzky and psychiatrist Gail Saltz about a recent study conducted by the National Endowment For Financial Education which found that 58 percent of respondents say they conceal cash from their spouse, 30 percent hide bills, and 15 percent hide bank accounts.
"It's pretty clear that there are a lot of things we don't want to cop to with our spouse," said Chatzky.
"Marriage is all about negotiation, compromise, trust, and not deceiving each other" said Saltz. "I think when financial deception does go on, it [points to] a bigger layer of deception underneath."
Indeed, the study also found that, 68 percent of the time, financial infidelity has had a negative impact on relationships, with 16 percent of marriages ending because of it.