One in three lie about finances
Tuesday 11th November 2008, 12:01AM GMT.
More than one in three have lied about the state of their finances as the economic downturn forces households to cut back.
Insurer AXA has asked people for their confessions and has uncovered some disturbing stories.
One man confessed to emptying his children’s savings account and pretending the cash was a bonus. The bonus had actually been cancelled.
Other confessions include: “I spent £70 on a pot of face cream and decanted it into an Oil of Olay bottle!”
“I lied to my partner about my earnings because he wanted to live off my income.”
“I invested in a company to get a job there. It went bust but I never told my husband I’d put money into the firm.”
Psychologist, Andrew Kinder, said: “In the current climate, concealing expensive purchases or unwise investments from those closest to us is likely to exacerbate the problem.
“Coming clean can provide just the emotional spur we need to review all aspects of our income, expenditure and savings. This is the worst possible time to be in denial about your finances.”
The biggest deceivers are in the 25-44 year old bracket, with 44 per cent lying about their finances. The over 55s are the most honest, with fewer than one in four confessing to dishonesty.
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