Financial Infidelity

Much ado has been made about infidelity lately, with the revelation about New York governor Eliot Spitzer’s extramarital affairs as well as those of his successor, David Patterson. But there’s a different type of cheating that can have just as damaging an effect on marriage.

USA Today reported recently that a growing number of marriages are feeling the strain of financial infidelity. Men and women alike are hiding purchases, having credit card statements mailed to the office and are siphoning money into secret accounts. Whether the financial lie is small (downplaying the cost of a purchase) or large (racking up credit card debt that can sink the family) money can come between a couple in many of the same ways sexual unfaithfulness does.

When polled in a Gallup/USA Today questionnaire, individuals reported that they were likely to see financial infidelity as a major breach of trust in their marriage, though only 12% saw keeping a secret bank account as grounds for divorce . Sounds like improving the relationship is a better course of action in most instances!

Have you ever kept a financial secret from your spouse or partner? Could you overcome financial unfaithfulness?

[USA Today]