Fa-la-la-la-lies: 54% of coupled consumers admit to hiding holiday spending from their partner

Additional noteworthy findings from the study include: 

Can’t gift with them, can’t gift without them: Men – not women – are more likely to bring “the drama” during the holidays, between hiding purchases with big price tags to returning gifts from their significant others.

• Hard to please: Men (31%) are twice as likely to expect an extravagant gift from their significant other compared to women (15%). Men are also more likely to return gifts from their partners than women, with 52% saying they’ve returned gifts compared to only 29% of women. 
•  Keeping big ticket purchases under wraps: Three in five (61%) coupled men say they’ve hidden holiday spending from their partner compared to 49% of coupled women. Of the men who have hidden spending, one-third (33%) have spent over $1,000 on a secret holiday purchase, compared to just 9% of women.
• Women feel the disconnect: Women (12%) are more than twice as likely as men (5%) to think they’re financially incompatible with their partner when it comes to holiday spending.

You better watch out …. for these holiday-related relationship deal-breakers: For singles looking for love during the holidays, here are some of their red flags. 

• Gratitude or bust: The top holiday-related red flag for 65% of singles looking for love is a prospective partner being ungrateful.
• Not prioritizing family: Almost two in five (39%) singles say a potential partner avoiding time with the respondent’s family around the holidays is a red flag. Twenty-nine percent say a potential partner not spending time with their own family is also a red flag. However, almost one in five (18%) say being included in a family gathering too soon gives them pause.
• Scrooge vibes: More than one in three (35%) say not enjoying the holiday season is a red flag. About one in ten (11%) specifically say refusing to watch holiday movies and another one in ten (9%) say hating to bake cookies is a bad sign in a potential significant other.
• Lousy gift-giving abilities: Eleven percent of Gen Z and 10% of Millennial singles say they have broken up with someone over a holiday gift, and 14% of Gen Z and 12% of Millennials singles say they’ve been dumped over a holiday gift.

The most stressful (family) time of the year: Holiday family time is a top stressor for singles and coupled consumers.

• In-law tension: Almost one in five (22%) respondents in relationships listed spending time with their significant other’s family around the holiday as a top stressor in their relationship. 
• Family ties: However, almost the same amount said spending time with their own family was a stressor (25%).

Staying together (or breaking up?) for the gifts: Gift giving in particular has a major impact on your relationship status, specifically for Gen Z’ers and Millennials. 

• Make or break: Forty percent of Gen Z and 31% of Millennial singles have waited or would wait to break up with someone to get a holiday gift. Meanwhile, 32% of Gen Z and 30% of Millennial singles say they have been guilted into staying in a relationship longer due to receiving an expensive or thoughtful gift. 
• Saving money: On the flip side, 34% of Gen Z and 32% of Millennial singles have broken up – or would break up – with someone to avoid giving them a holiday gift.

About Bread Financial™   
Bread Financial™ (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive suite of payment solutions that includes private label and co-brand credit cards and Bread Pay™ buy now, pay later products. Bread Financial also offers direct-to-consumer products that give customers more access, choice and freedom through its branded Bread Cashback™ American Express® Credit Card and Bread Savings™ products.

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