(WTNH) — Valentine’s Day is a day to celebrate relationships, but a study found that couples may not be as honest about money as they are in their commitment to each other.
According to CreditCards.com, nearly 30 million people in live-in relationships are committing some form of “financial infidelity” — like hiding cash or a secret bank account.
The biggest “cheater?” Millennials are more likely than other age groups to lie about their spending, debt and accounts.
As we approach Valentine’s Day, some tips to balance love and money in a way that’s healthy for the relationship:
- Decide if it’s best to combine finances in your relationship. There is no way that’s the right way for all couples! Base your decision on your own life circumstances.
- Consult one another on setting spending limits – let the other know when a purchase may go over.
- Divide roles and responsibilities. You’ll be less likely to become upset over how the money is spent when you have a clear plan on who pays for what.
- Set monthly saving goals. Extra spending is more tolerable when you meet you’re mutually agreed upon goals.
The good news? The survey found most people forgive and wouldn’t end a relationship over money secrets, but it’s better to get on the same page now before there are broken hearts.