'Financial infidelity' on the rise, especially among Millennials, according to new survey

SAN FRANCISCO (KGO) -- Do you have a secret stash of cash? Maybe you're hiding a bank account or credit card from your significant other. If you do, you're not alone.

A recent CreditCards.com survey found people in committed relationships are keeping money secrets from each other. Nearly 30 million people in live-in relationships are committing so-called "financial infidelity."

The biggest "cheaters"? According to the report, Millennials are more likely than other age groups to lie about their spending, debt, and accounts. 28% of them admitted to hiding an account from their partners.

The main reason for keeping money secrets, according to researchers, is that people have a desire for a "freedom fund" or safety net in case the relationship turns sour. But all that "cheating" can put a strain on relationships. 20% of people surveyed said having a secret account is worse than having an affair.

But there is good news: only 2% of those surveyed would break up with someone if they discovered they had $5,000 in credit card debt, and most people forgive and would not break up over money secrets.


Take a look at more stories and videos by Michael Finney and 7 On Your Side.

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