Has anyone NOT walked into the house and quietly walked upstairs, trying to be as inconspicuous as possible as you stuff your secret purchases in a drawer, only to bound directly downstairs again as if nothing has happened? We have. Many of us at Voucherbox.co.uk have been guilty of this at one time, and so we wanted to find out how many other Brits are prone to concealing purchases they have made from others – and what EXACTLY are they hiding?
Our research shows that more than half of Brits intentionally hide purchases from their family and friends, Around the same number of people also lie about the price of purchases – So why is it that people feel compelled to avoid the truth in certain situations involving money?
Reasons found in our study shows that not wanting to get into an argument as a reason given for concealing these buys. Furthermore, the most common reasons for lying about prices was that they didn’t want others to know how much they were spending. And how much is being hidden from others?
Britons are hiding up to £600 from their loved ones every year, with over half of the respondents hiding around £50 a month. Most people are hiding these secret buys from their partner with 56% of respondents doing so – 28% of respondents were also concerned about their parents finding out about about their spending habits.
The most popular items being concealed are clothes and accessories with 43% of respondents admitting to hiding such items. Food was the next most popular item on the list with 28%, and beauty products at 21%. 13% of those researched hide when they buy alcohol, 10% conceal adult material, and 9% are spending covertly on gambling.
Our study shows that young people between age 18-24 are compelled to lie the most with almost 3/4’s doing so, incidentally they are also hiding the most expensive purchases, adding up to almost £800 per year. This is likely to be a combination of low wages, student debt, and little life experience with handling money.
Our thoughts? Being in control of your money will help you stay in control of your life. Be smart and honest with your spending, remain truthful to others and yourself.