WASHINGTON — If you’ve been hiding your spending habits from your spouse, it looks like you’re not alone.
About 12 million Americans have a bank or credit account that they’re hiding from their live-in spouse, partner or significant other, according to a new CreditCards.com survey.
Older consumers of the baby boomer generation, those ages 63 to 71, were the biggest culprits. Eleven percent were guilty of financial infidelity. Millennials clocked in at only 3 percent.
Baby boomers were also found to be more likely to spend $500 or more without telling their partner.
“Keeping secrets in your relationships is never a good idea,” said Matt Schulz, senior industry analyst at CreditCards.com. “Like any indiscretion, what starts out small tends to build. Spending $25 without consulting your partner may seem incidental, but when those purchases become more frequent or if the amount grows, it can wreak havoc on your accounts and your budget.”
Overall, Americans are happy to make large purchases on their own, with 28 percent of respondents admitting to having spent $500 or more on a single purchase without asking their partner. Baby boomers were, again, found to be more likely to spend that amount than millennials — 39 percent as opposed to 20 percent.
The full results of the poll can be found at the CreditCards.com website.