Financial Infidelity: A Hidden Threat in Relationships
Financial infidelity may be more common than you think. A survey by CESI Debt Solutions revealed that many couples hide money matters from each other. The results are surprising and might make you question the financial honesty in your relationship.
How Common Is Financial Secrecy?
The survey found:
80% of married couples spent money without their spouse knowing.
Nearly 18.5% had secret credit cards.
These numbers may seem alarming, but don’t panic. Awareness is the first step to addressing the problem.
Talking About Money Before Marriage
If you’re not married yet, have an open discussion with your future spouse. Talk about:
Debts you each have
Number of credit cards
Savings and investments
How your expenses compare to your annual income
Understanding each other’s financial habits is key. The survey showed that 43% of people hid spending to avoid arguments. Starting the conversation early can prevent this issue.
Managing Money Within Marriage
If you’re married, review shared expenses like utilities, rent, or mortgage. Compare spending and saving styles. Differences don’t have to create conflict. Instead, work toward a compromise that allows both freedom and financial responsibility.
Separate and Joint Accounts
Consider having both joint and separate accounts. A joint account can cover bills, while separate accounts allow personal spending without guilt or secrecy. This balance helps avoid debt while maintaining trust.
Regular Financial Check-Ins
Keep financial discussions ongoing. Meet weekly or biweekly, and review monthly budgets before bills are due. This habit ensures you know exactly how much you can save and spend each month.
Seeking Professional Help
If managing debt becomes difficult, reach out to certified debt counselors. Services like DebtHelper.com can provide guidance. You can also call 1-800-920-2262 for professional advice.
And to see more statistics that the survey found out visit the Forbes website.
Source:
Forebes.com
