According to the 2011 Lawyers.com Couples & Money Survey, of these Americans, four in ten agree that honesty about finances is more important than honesty about fidelity (compared to 2005 in which 24% agreed with this sentiment), yet nearly three in ten (29%) admit that they have withheld information from their spouse or partner regarding their spending on discretionary items, such as apparel, accessories, electronics and entertainment.
The survey also shows that nearly all Americans in committed relationships (91%) agree that it is important to discuss their partner’s financial history before marriage, yet more than one quarter (26%) admit they tend to avoid talking about finances.
One in ten respondents say they have withheld information from their spouse or partner about their household finances (12%), their debt (12%), their spending from a joint account (10%), or their salary (8%). Men are nearly twice as likely as women to say that they have withheld information from their spouse or partner regarding their salary (11% vs. 6%).Half (52%) of adults in committed relationships report that all of their bank accounts are combined with their partner’s; 18% report that all of their bank accounts are completely separate from their spouse or partner; and 29% report having both combined and separate bank accounts.
The 2011 Lawyers.com Couples & Money Survey found that a majority of Americans in committed relationships (85%) say they would do things differently to manage their financial situation if they had the opportunity to go back in time.
Nearly two-thirds (64%) would put more money into savings; over four in ten (46%) would put more money into retirement account(s); and over one-third (36%) would put more money into investments such as stocks, bonds, and mutual funds. Nearly half (49%) would spend money more responsibly.
In addition, one in five Americans in committed relationships (21%) would discuss financial goals/expectations earlier in their relationship and one in ten (10%) would be more honest with their spouse or partner about their spending.The online survey was conducted by Harris Interactive in April 2011 among 949 U.S. adults ages 25-55 in committed relationships.
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