What do I do about financial infidelity?

Traditional infidelity is as old as marriage itself, and is a common tipping point for a divorce. Financial infidelity is a new kind of deceit. It is on the rise and just as harmful.

82% of spouses have reported lying about their shopping habits, and a majority say money is used to control their relationship[source]. There are a lot of different ways your spouse can be financially unfaithful:

-          Lying about the cost of big ticket items

-          Creating savings accounts and hiding money from you

-          Applying for credit cards and racking up big debts

-          Making risky investments without consulting you

-          Concealing a promotion, inheritance, or other source of income

If you’ve discovered financial infidelity, all is not lost. These transgressions are an opportunity to work on repairing your marriage.

Commit to being honest and open-

Create joint accounts, share passwords, and be honest. You can’t make true progress towards putting infidelity behind you unless you’ve laid the rot bare.

Consider professional help-

Couples counseling and financial planning assistance can both be instrumental in overcoming the challenges financial infidelity can place in front of you.

If divorce is the only option, taking these steps first will allow you to feel good about your decision to part ways and set you up for a quicker and more affordable resolution of your dispute.

If you or someone you know has been the victim of financial infidelity and need recommendations for professionals, guidance on resources, or have questions about filing for divorce, contact me.