A recent study has found that about half of men hide financial information from their spouses or partners.
A survey involving 2,000 men revealed that 49% of those in committed relationships keep money-related secrets, with this number rising to 60% among married respondents.
The most commonly concealed secret is a hidden savings account, reported by 14% of participants. Other secrets include undisclosed spending habits (13%) and hidden credit cards or lines of credit (12%).
Men who chose to keep these secrets often expressed feelings of embarrassment—27% of them felt this way, and another 26% agreed. Additionally, one in five admitted they didn’t know how to bring up the subject.
This silence seems to stem from the pressures surrounding financial success. About 48% of survey participants openly acknowledged feeling under pressure, with 56% stating that they feel self-imposed stress, while 27% mentioned societal expectations for men to achieve financial success.
The research, conducted by Talker Research and commissioned by Beyond Finance in honor of Men’s Mental Health Month, aimed to explore the connections between finances and mental well-being, uncovering a notable correlation.
In assessing their mental and financial health on a scale of 1 to 5, respondents with lower financial health typically rated their mental health lower as well; those rating their financial status as poor averaged a mental health score of 2.8, while those with excellent financial situations averaged 4.6.
Still, a significant number (20%) reported lacking confidence in their financial standing.
Men hesitated to discuss their financial issues; 41% would confide in a partner, 23% to financial experts, 19% to friends, and just 12% to their mothers and 11% to their fathers.
Lou Antonelli, COO of Beyond Finance, commented, “This study confirms long-held suspicions: Men are quiet about their money matters. Economic anxiety often leads to isolation and inhibits open communication, pushing men away from taking control of their financial and emotional well-being.”
Furthermore, 40% of men indicated they feel detached from friends when it comes to discussing finances, especially those rating their financial health poorly. Among these men, 69% felt isolated compared to just 27% of those who rated their situation as good. Overall, 37% avoided friendships that made them feel financially uncomfortable.
“This research highlights broader cultural issues. Men are overwhelmed by financial concerns but fear seeking assistance. The stigma surrounding money—shame, secrets, and silence—can adversely affect not only finances but also relationships, careers, and mental health,” the report stated.
Asul added, “While this isn’t a complete solution, it aims to give men the permission to be open about their financial situations and to construct healthier, more optimistic pathways forward.”
