Finances, honesty and trust in a marriage

| Nov 25, 2020 | Divorce

Most people agree that married spouses should openly and honestly communicate with their partners. A lack of trust between spouses may both signal and contribute to the eventual breakdown of the marriage.

Infidelity in a marriage may involve third-party romantic relationships. It may also involve a lack of honesty when it comes to money.

The problem of financial infidelity

As reported by NBC News, 15 million people in the United States openly admitted to hiding a bank account or a credit account from their spouses or significant others. These actions represent one form of financial infidelity. The rate of financial infidelity may increase among the millennial generation.

Tips that may signal financial infidelity

As explained by The Simple Dollar, a change in one spouse’s behavior may warrant closer inspection, especially when it comes to money. For example, if a wife asks a husband about their family budget, she should watch his response. If he normally responds openly and without issue but all of a sudden starts snapping at her and avoiding the conversation, she should logically wonder what prompted the change.

Surprise debt

A person may feel financially stable only to uncover a mound of debt they never knew about. The debt may result from actions taken by the spouse, such as opening a credit card and using that to make purchases without telling the other person.

Missing assets

Savings or retirement account balances that drop to unusual levels with no clear explanation, such as a major shift in the market, may signal the need for a person to investigate further. Some people move money around before they file for divorce. They do this to preserve more money for themselves during a divorce.

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