What You Need to Know About Financial Infidelity
We all know what “infidelity” means and it’s a word we never want to hear when we are in a relationship. What we don’t realize is that there are different forms of infidelity that could be happening in our romantic connections right now. The most common one that we always fail to identify is financial infidelity.
How do you define financial infidelity?
In 2016, a poll for the National Endowment for Financial Education revealed that two in five Americans confess to financial infidelity against their partner. The numbers may have changed since it’s already 2017 but what this poll tells us is that financial infidelity is common.
The phrase means that you are hiding financial information from your partner. If you bought a pair of shoes and you lied to your partner about it, it’s financial infidelity. If you owe a lot of money because you have a bad gambling habit, and you lied to your partner about it, you have committed financial infidelity.
What’s wrong when the money is your money?
Even if you say that it is your money that you’ve spent, you still need to tell your partner or spouse about it because secrets, of any form, can rot a relationship from within.
Experts will tell you that the most common causes of arguments in a marriage are sexual intercourse, children and money. If you lie about money, even if it is your own, your relationship could be headed towards rocky waters because what you’re doing can lead to:
- Financial instability
- Mistrust (with money, as well as everything else)
- Constant conflict
- And many more.
How to deal with financial infidelity?
The best way to deal with infidelity in your finances is to come clean. You’ll be faced with a slew of dirty looks and, most probably, unflattering remarks from your partner (depending on the severity of your financial infidelity), but know that the relationship can still be repaired if you truly want it to work out.
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