A new report from finder.com.au reveals the secret spending habits of Australians.
Australians spend around $11 billion each year on purchases such as gambling, adult entertainment and clothing, most of which they are likely to hide from their partners.
A www.finder.com.au report surveyed 1035 Australians to reveal their secret spending habits and, according to the report, most Australians may be shocked to find out about their partner’s hidden purchases.
Aussie blokes spend nearly three times more ($4596) per year on secret purchases compared to women, who spend about $1476, although the girls are more likely to hide their purchases from their partners. In fact, 23 per cent of women engage in covert spending compared to men, who cover up 20 per cent of the time.
The top five most hidden purchases are adult entertainment (1.6 per cent), guilt foods (4.2 per cent), cigarettes (1.4 per cent), gambling (4.3 per cent ) and clothing (5.1 per cent). Men will generally hide spending on adult entertainment and gambling, whereas women hide their clothing purchases.
Generation Y (18–35 year olds) take out the secret spending award, with average stealthy spending of around $2054 per year. Gen X spend about $1173 and Baby Boomers a mere $318. Most use cash (44 per cent), which is difficult to trace, but many still use credit cards (26 per cent) and debit cards (17 per cent), some of which are ‘secret’ credit cards for this very type of activity.
Money expert Bessie Hassan from www.finder.com estimates that Australians are approximately $1196 in debt because of their clandestine buying.
“Some people are just in denial about their spending habits,” said Ms Hassan. “If you have to hide purchases from a partner, it's probably because you know you shouldn't be buying the items at all. Some go as far as having secret credit cards to pay for all of it without getting busted by their partner.”
“Covert credit card behaviour is a slippery slope,” she added.
Read the www.finder.com.au report
Do you hide purchases from your partner? Are you surprised that men secretly spend more than women?