AirTalk for August 23, 2010

Secret credit cards & covert purchases between spouses

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Joe Raedle/Getty Images

Alain Filiz shows off some of his credit cards as he pays for items at Lorenzo's Italian Market on May 20, 2009 in Miami, Florida. File photo.

It’s no surprise that secrets can sabotage a marriage. Ask anyone whose partner has cheated on them. But there’s another form of dishonesty that can be just as destructive: secret spending. According to a recent survey of 200 Americans, more than 80% of married couples lie to each other about their purchases. And nearly 20% of married people have credit cards they haven’t told their partner about. The group sampled was relatively small, but the impact of covert spending can be huge. So what’s with all the secrets? Does this sound like you or someone you know?

Guest:

Chris Farrell, Economics Editor, Marketplace Money


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