Liar, Liar, Financial Pants on Fire

July 2005
Journal of Financial Planning;Jul2005, Vol. 18 Issue 7, p18
Academic Journal
This section presents the results of a survey conducted by Mathew Greenwald & Associates of men and women in households with $50,000 or more in income, as of July 2005. The odds are that the client couple you met with in your office today are liars. At the least, liars to each other. Perhaps liars to themselves. And maybe even liars to you. According to the survey 71 percent fessed up to holding one or more money secrets, 46 percent said they lied to their spouse about what they paid for a purchase, or intentionally did not tell them they had made a purchase, 44 percent thought it was okay to lie about finances under some circumstances, mainly to avoid marital conflict, 29 percent misled family and friends about their true financial situation, the poll offered no numbers about how many lie to their financial planner, finally, 35 percent lie to themselves about their financial reality by not thinking about it, refusing to look at personal financial statements, putting off paying bills, ignoring financial news, or avoiding working with a financial advisor.


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