Are You Hiding a Financial Secret From

Your Significant Other?

 

Is it a good policy to hide personal finances from your significant other? Victory State Bank, Staten Island’s only community-based commercial, thinks not, as doing so might challenge the honesty and integrity of your relationship.

However, a recent survey found that among American couples, a staggering one in six is hiding a financial secret from their partner.

Of Americans who would reconsider their relationship due to secret debt, 70 percent would do so if their partner confessed to $5,000 or more. The findings were recently revealed by online term life insurance provider Haven Life, which commissioned research firm YouGov to poll the views of a representative sample of 1,124 American adults.

Key highlights from the report include:

  • For women who report financial secrets, top of the list are secret personal purchases (34 percent)
  • More than one in four (27 percent) Americans with financial secrets are hiding a secret checking account
  • Twenty-one percent have either a secret savings stash or checking account
  • One in five Americans have secret debt their partner doesn't know about

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

Media Contact: 

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