There is often a perception that marriages come to an end because of lots of little things coming to a head over time, but at times it can be one lie or one secret that is the undoing of the whole marriage.
It might not seem as serious as the more traditional form of cheating, but financial infidelity can lead to all the same feelings of betrayal and anger—and end up in divorce too.
In fact, according to research, in one out of every three couples, one spouse admits to lying to his or her partner about money, with 76 per cent of couples saying that financial deception has adversely affected their relationships.
What exactly is financial infidelity?
Often, people only think of the obvious culprits—overspending on the credit card and trying to hide the statements, or losing big at the track and keeping it a secret—but financial infidelity comes in many shapes and sizes, and isn’t necessarily actions that are perceived as frivolous pursuits.
Do you have any investments regardless of whether they are making or losing money that that you haven’t told your partner about? Perhaps you have past debts that have never been resolved, a failed business or other financial commitments, or maybe you’re helping a family member with their own financial problems.
All of these are considered financial infidelity if you aren’t telling your partner about them. What’s the problem, you may ask, particularly if the investment is making money?
A relationship is built on trust, and keeping information from your partner can be portrayed as a betrayal of that trust.
Financial pressures are a leading contributor to divorce, so imagine your partner’s feelings if, having spent a great deal of time worrying and wondering how to make ends meet, they suddenly discover that you have your own private stash of cash that you aren’t committing to the relationship.
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