Yahoo Finance $5,000 or more: How much is OK to spend without telling your partner?
Millions of Aussies could be withholding their spending habits and money from their partner, according to new research.
A new Canstar survey found around 19 per cent of Australians felt they shouldn’t have to disclose to their partner how much they spent on anything.
Not everyone hides their spending habits though. Around a quarter (25 per cent) believe in sharing every detail about their spending, big or small.
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Meanwhile, 20 per cent said you should check with your partner for anything over $99.
Some Australians are a little more loose with the purse strings, however. Approximately 18 per cent felt it was acceptable to spend anywhere between $100 to $499 without checking in with their significant other, while 17 per cent said between $500 and $4,999 was acceptable.
An additional 3 per cent of Australians said spending $5,000 or more was OK without consulting their partner first.
“Canstar’s research reveals an interesting mix of opinions among Australians when it comes to disclosing personal spending in relationships,” Canstar’s editor-at-large, Effie Zahos, said.
“Some couples are happy to spend thousands of dollars without consulting each other, while others prefer to touch base even for smaller purchases under $100.”
Zahos said there were plenty of factors that could impact how much people were willing to spend in a relationship without consulting the other person.
“This can include how much you both earn, the types of purchases you’re making or how you structure your accounts,” she said.
“With so many couples now keeping their finances separate, it's normal to want to keep some of your spending private - it's your money after all.”
However, Zahos warned that not consulting your partner about your spending could become an issue if it was going to affect joint savings or financial goals, such as a house deposit.
“For this reason, it’s important to communicate with your partner and set expectations around when to touch base about spending,” Zahos said.
“For instance, you might decide to spend as freely as you both wish and discuss in advance any major purchases you intend to make together, while other couples might prefer to make all their purchases from the one account.”
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