Money matters can be stressful and fraught with emotion. How much we earn, spend, save, and owe can get tied up with our feelings of self-worth and relationships with others.
We surveyed 2,600 U.S. residents to find out how they feel about their finances and how honest they are with others when it comes to money. Only 11.8% of the study participants said they are “excellent” at handling their finances; 6.8% rated themselves “poor,” and the rest fell somewhere in between.
People are most open with their significant others about money, with 45.7% saying their partner knows “everything” and 30.1% saying their partner knows “quite a lot.” But we are much more guarded about discussing money with family members, co-workers, and even close friends.
Participants told us they are more comfortable talking with others about their age, weight, and mental health than their credit card debt or income. And people would rather talk about their sex lives than how well they’re saving and investing for the future.
Whether it’s done to avoid arguments, cultivate an image of success, or gain a competitive advantage, a whopping 75.3% of Americans admit they lie about money at least some of the time. These are the top lies we tell about money.