Every relationship has some amount of financial infidelity. It might be as minor as not telling your spouse what you really spent on her birthday gift, or as major as keeping a secret bank account or credit card. The bottom line: no matter how big or how small the financial infidelity is, it is a relationship killer.
With 70% of all divorces in America citing money as one of the major causes leading to the split, financial infidelity is the unspoken reason marriages fail and families split. With all of our exposure to it through the couples we counsel, or even our own financial infidelity (yes we have committed it), we have identified five triggers to help you identify and work through your own:
1. Financial separation. Many couples think if they keep their money separate, it it will not cause friction in the relationship. What we see is that this is almost an impossible scenario. How do you live under one roof with no overlap in finances? Resentment and mistrust set in as bills are split up, and both people in the relationship are doubting their partner's finances.
2. Overspending and debt. Many couples struggle with overspending and debt. What we often see is that one or both people in the relationship will hide credit cards and/or purchases. This is most often done to avoid a fight. Happily Ever After
3. Lack of planning. Often couples will do no planning because they are relying on the other to do the current and future planning. Usually, they will wait too long until they even address the issue. When the problem is finally discovered, the blame game begins. 3 Ways To Enjoy The Holidays Without Financial Worry
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