It’s easy to get caught up in all the hype around Valentine’s day — but if you’re not careful it can cost you a lot more than a box of chocolates or a bouquet of flowers.
There are some real horror stories out there about people getting ripped off in the name of romance. Credit Canada reached out to Canadians to hear their stories. Here are just a few tales of betrayal.
Wrong kind of trip
“I was with someone for 8 months who told me he was in a really bad spot financially – I wasn’t in a great one either but I felt so bad and really liked him so I paid for everythinnggg because he said once he was back on his feet he’d pick up all the bills and we could go on vacation together on him! We split up because he met someone else – and 2 months later they went on a world trip!!! He had no money because he was saving for that!! What a little 💩! I spent almost $2000 on stuff for him – silly girl I know ! 🤷♀️😅😞”
Blinded by love
“I had an ex who had a business that he was trying to promote. At the time he was living with his parents and taking the bus. He asked me for a $2000 loan to help with rent for his own place and to buy a scooter to get around. Unfortunately, I didn’t see all the red flags because I was so in love and decided to lend him the money. A month later I found him in bed with one of his employees 🤬🤯 Needless to say I never saw my money again.”
Why you should always check the credit card bill
“My ex used our credit card to wine and dine the woman he was having an affair with.”
Taken for a ride
“I let a boyfriend use my credit card to pay for car repairs and he never paid it back, saying he drove me everywhere so I owed him. Needless to say, that relationship didn’t last!”
Credit Canada says 36 per cent of people in relationships surveyed have lied about their finances. CEO Laurie Campbell says it’s important to talk about money matters before falling head over heels and subsequently financially in over your head.
“Often, partners do not discuss money matters,” says Campbell.
“It doesn’t seem romantic. As a result, many individuals don’t know about their partner’s secrets, how they handle money, their values around money, or their thoughts on credit and debt. This leaves room for miscommunication and at worst dishonesty and possibly partner financial abuse.”
Credit Canada says there are some infidelity red flags to watch out for:
- Regular cash withdrawals, unaccounted purchases, and expenditures that cannot be explained
- A change in behaviour or spending habits
- Spending more, on themselves and/or others
- Less frequent mail from your regular financial services and creditors
- Partner is very concerned about the mail and doesn’t let you see it first