Newsflash! People lie about their spending habits

Research has shown that most us lie about our spending habits, and there is almost no difference between how much women lie versus how much men lie.

The research was commissioned by money expert Vanessa Stoykov.

Key findings of the research include:

  • Forty-three per cent of Australians are honest when they talk to their loved ones about their spending.

  • Men and women are just as bad as each other, with 41 per cent and 44 per cent respectively being dishonest in these conversations.

  • The two main reasons people lie about their spending is knowing they will be judged and because they know they are spending more money than they should.

  • Thirty-six per cent of people don’t ever talk about their finances with anyone, with 42-49-year-olds the least likely to talk about money. About 45 per cent say they would never share these details with anyone, following by the 50-57-year-old age group, where 41 per cent would never talk about money.