Why We Lie About Money and How to Break the Cycle

Many people are keeping secrets when it comes to their spending habits. A new survey from TopCashBack found that nearly three in four consumers admit to lying about their purchases—most often to avoid conflict or judgment from a loved one. The study revealed that overspending is most common in everyday categories like tech, dining out, and fashion, where it’s easy to blur the line between wants and needs. According to consumer expert Destiny Chatman, emotions like stress, boredom, and excitement often fuel impulse purchases, making it easier to justify, and later hide them.

The reasons for covering up purchases are deeply personal. Nearly half of survey respondents said they lie to avoid conflict with a partner, parent, or friend, while others admitted they fib to ease feelings of guilt. Chatman explained that recognizing emotional triggers is the first step toward breaking this cycle. Many people fall into mental traps like thinking, “I’ll regret it if I don’t buy this” or “I’ll use it all the time,” which makes overspending feel more reasonable in the moment. But once the guilt sets in, hiding the expense feels like the simplest solution.

The good news is that small, practical changes can make a big difference. Tools like budgeting apps, shopping lists, or cashback rewards can help turn overspending into smarter financial habits. Interestingly, two-thirds of people surveyed said they’d lie less about their spending if they earned rewards or savings regularly, suggesting that the real issue isn’t buying something fun, it’s feeling like money is wasted. The takeaway? You don’t have to stop treating yourself, but finding ways to spend wisely can make you feel more confident, honest, and in control of your finances.