According to new survey, nearly half of U.S. married couples admit to fighting over how much money to spend during the holiday season -- and research says that may not bode well for their relationships.
McGraw-Hill Federal Credit Union surveyed 1000 individuals in heterosexual and same-sex marriages as well as divorced couples who are remarried or in committed relationships. Their results indicated that forty-eight percent of heterosexual married couples admitted to clashing over holiday spending, compared to forty-three percent of divorced couples and thirty-seven percent of same-sex couples.
The survey also revealed partners will go as far as opening secret credit cards to make hidden purchases, paying in cash to cover big-money items and even telling white lies about how much they've spent.
So what does that mean for the couples' relationships? The answer is not promising.
A survey conducted by Moneysupermarket.com found one in ten people say that secret spending played a part in their separation or divorce. Additionally, researchers from Kansas State University released a report earlier this year that suggested arguments about money are the top predictor of divorce.
In order to avoid these financial pitfalls during the holidays, McGraw-Hill CEO Shawn Gilfedder says communication is key: "Avoiding money talk can create tension in relationships that only honest communication and financial education
can heal.”
Check out the slideshow below for ten ways to save money this holiday season.
