Honesty and openness are key to a healthy relationship – especially when it comes to money. But some couples are suffering from what’s called “financial infidelity”.
Financial infidelity is when you lie, or hide financial information from your spouse or partner, and it can be tricky to spot if your partner is doing it.
Hannah McQueen of enableMe advises that financial infidelity can come in many different guises – it can involve keeping a secret bank account or credit card, making risky investments, hiding assets and liabilities, or not telling your spouse how much you really earn.
The seriousness can vary. It could be something minor, such as concealing a small purchase or not being completely truthful about the price of an item you’ve bought.
It can, however, have devastating consequences if you’re hiding big debts, not paying bills or if you have a gambling addiction.
It is possible to break such bad financial habits. First, you and your partner need to admit that there is room for improvement. Then you need to come clean and be honest about your finances with each other.
It is important to devise a plan that gets everyone working together to achieve the same goal of financial fidelity – and all without compromising your lifestyle.
Financial infidelity can be a very challenging issue to overcome in a relationship. It is often a core symptom of two people who aren’t communicating well and have different visions for their future. This can lead to a damaged relationship that only limps forward.
Go on, address the issues and get on track to a happy, healthier relationship.