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Financial Infidelity

Financial infidelity - lying or refusing to be honest with your spouse or partner about money.

As more and more marriages are made up of two-income couples, financial planners and marriage counselors are encountering a problem known as “financial infidelity.” Simply put, financial infidelity is lying to your partner about money. Although recent studies reveal that 96% of American couples believe complete honesty about financial issues is important, 29% admit to lying to their partners about money.

The ways that we lie about money can vary from something as simple as not telling your partner about buying a new pair of shoes to something as complicated as hiding a large investment – or the losses from one. Lying about money also varies by gender – according to psychologists, men tend to lie about income, while women more often are dishonest about spending.

Sometimes the impulse to keep financial secrets stems from a desire to avoid confrontation or arguments. This is an easy mistake to make, but a dangerous one. Psychologists and divorce specialists agree that strong relationships are about financial compatibility, as well as emotional, physical and emotional compatibility. Being financially faithful involves having complete honesty, similar monetary goals and a workable – agreed upon – family budget.

When it comes to money matters at home – honesty is important – and financial infidelity in a marriage can destroy your relationship with your partner as quickly as can emotional or sexual infidelity.
Published Apr 29 2010, 02:17 AM by moneycoach
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