Is Your Spouse Financially Cheating on You?

According to Forbes Magazine, "…over half of all [financially cheating spouses] admitted hiding cash (58%) or minor purchases (54%). Of the offenders, 30% have hidden a bill, 16% have hidden a major purchase, 15% had a secret bank account, 11% lied about their debts and another 11% lied about the amount of money they earned."

One of the biggest problems within a marriage is finances. For many couples, it is hard enough to make ends meet in today’s economy, but financial irresponsibility by one or both spouses easily can destroy a marriage.

Listed below are some red flags in determining whether financial cheating is going on in your own marriage.

  • Does your spouse maintain all of the family finances and keep you in the dark about them?
  • When you talk with your spouse about finances, does he/she become defensive and/or refuse to discuss the topic?
  • Do you think your spouse is spending more money than the two of you can afford?
  • Has your spouse lied to you before about your finances or how he/she spent money?
  • Does your spouse lie to other people about your income and/or expenditures?
  • Have you discovered secret bank accounts your spouse opened?
  • Have you discovered debts your spouse created and didn’t tell you about?
  • Have you or your spouse ever spent money as a revenge tactic against the other spouse?
  • Do you have a “gut feeling” that your spouse is hiding something financially?
  • Do you trust your spouse to deal honorably, honestly and above-board in financial dealings with you?

If you answered “yes” to any of these red-flag questions, then you may have a financial problem in your marriage. And, failure to address financial issues can have a major effect on the health of your marriage!

Next week’s blog: How to Handle Marital Financial Cheating

Categories: Family Law, Fiduciary Duty
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