Is Personal Finance Infidelity Really Worse Than Sexual Infidelity
Whether you are married or just in a stable relationship in general, one thing rings true. If you financially cheat during a relationship, you’re gonna have a bad time. One of the keys to strong finances is that both people take it seriously. I have heard many horror stories on a clueless spouse finding out s/he has a spouse with 15k on a credit card they knew nothing about! That is going to tear up the relationship, but it is also more damaging than a physical blow. Because this may hurt opportunities later down the road – even years later! Money is the #1 reason for divorce, there is more to stake here thank just a bigger checkbook!!
I really enjoyed this article and I believe it hits home – hard! In order to have your finances down pat both parties have to be on the same page with the same goal, as with anything in life COMMUNICATION is key!
Make sure you visit the article on The Huffington Post.
Money Secrets: Men vs. Women
According to the study, almost twice as many women as men hid purchases from their partner, while over a third said they keep “money secrets” from their loved ones due to conflicting attitudes on the three cornerstones of family finances — money, credit and debt.
“Discussing money can be very awkward, but it is important to have this conversation with your partner early on,” notesSELF Editor-in-Chief, Lucy Danziger. “To have a successful relationship, you need to have trust and hiding money secrets is a huge way to break that confidence. Open up about past debts, then lay some ground rules for the future and have a mutual agreement on your expenses. This openness will save you from many fights in the end and lead to a much healthier relationship.”
Facing Personal Finance Infidelity Head On
At Credit Sesame, we’re all too aware of the destructive potential debt and money problems can have on individuals –and couples and families. Our work with consumers reveals that money is an emotional lightning rod, particularly when consumers bring their own preconceived notions of what constitutes “fidelity” into a long-term relationship.
When consumers mix credit and debt, they tend to personalize the issue. And as financial problems accumulate, spouses and partners may see it as preferable (or in their minds, unavoidable) to lie or cover up money issues — if only to buy more time to solve the problem.
What steps can financially troubled consumers take to alleviate financial infidelity before it seriously impairs their relationship? Consider these steps:
- Make a pact to make financial decisions as a team.
- Agree on a monthly sum of money that each partner can spend, “no questions asked” — as long as it fits the budget.
- Confess if you’ve been hiding money. Clinical data shows that transparency builds trust and solidifies relationships.
Warning Signs What red flags should partners look for if they suspect personal finance infidelity? Here are a few ominous signs…
- Your significant other is obsessed with controlling the finances, and allows no input from you.
- Suspicious withdrawals from various accounts; Outlandish reasons for it if questioned.
- They change the subject when you want too discuss money.
Financial infidelity is a genuine threat to relationships and any partner who compromises the trust associated with shared assets threatens to severely damage the relationship — often times, irrevocably.
Make sure you guys write down your goals for your finances and subscribe!