Posts Tagged ‘FinancialInfidelity’


Smart About Money Article: Financial Infidelity: Commit to Full Disclosure

Tuesday, September 30th, 2014

Financial Infidelity: Commit to Full Disclosure

By: Smart About Money

Say ‘I Do’ to Financial Fidelity

Financial infidelity may start with a “harmless” small purchase that you don’t tell your spouse or partner about. But it quickly can snowball into a larger problem that can lead to devastating financial consequences for you and your family.

Have you ever:

  • Hidden a major purchase
  • Kept a secret checking account/credit card
  • Lied about money earned
  • Lied about outstanding debts
  • Hidden a bill or receipt
  • Hidden cash
  • “Forgotten” to tell your spouse about extracurricular spending (sporting bets/day-trading/online shopping)

 

A NEFE survey found that one in three Americans who have combined their finances admitted to financial infidelity in their relationships. Many others admitted to lying to their spouses about money, and another one-third of these adults said they’d been deceived.

Of the couples whom experienced financial infidelity:

  • 67 percent said the deception led to an argument
  • 42 percent said it caused a loss of trust in the relationship
  • 11 percent said it led to separation
  • 16 percent said the money cheating led to a divorce

 

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