As couples prepare to celebrate their romance this Valentine’s Day, many of them may be hiding their infidelity from their partner.
Their financial infidelity, that is.
That’s according to a new survey by the website Rates.ca, which compares insurance and other financial products.
The online survey of approximately 1,600 Canadians found that one in five Canadians are committing “financial infidelity” by keeping secrets about their finances from their partner.
Sara Kesheh, the vice-president of money at Rates.ca, said financial infidelity includes hiding purchases, poor credit scores, bank accounts, loans, credit cards, investments, reward points, payday loans, and lines of credits from their significant other.
According to the “Cost of Love” survey, 31 per cent of respondents kept purchases from their significant other, 28 per cent hid their poor credit score, 21 per cent admitted to hiding cash, 14 per cent had a secret bank account, 10 per cent had a line of credit or long-term loan their partner didn’t know about, and 8 per cent had a credit card they keep confidential.
While making secret purchases was the most common financial infidelity, Kesheh said she thinks concealing a poor credit score is particularly disconcerting.
“That’s a big one because as you make decisions as a couple together around purchases, whether it’s a home or you’re buying a car, poor credit actually does impact those purchases,” she…