Did you know that almost 30 million Americans are financially unfaithful? Are you also the one hiding your savings and credit cards? Shhhhh…. Don’t worry, we won’t tell. Is financial infidelity less unforgivable than an emotional one?
Americans And Financial Infidelity
They say that Americans living in the South and the West are more inclined to financial infidelity than the others. Also, it has been reported that millennials are more likely to hide their finances comparing to older generations. Reasons for committing financial adultery are various. However, we can point to a few most frequently stated ones.
Creating a safety net in case of a divorce. If you are a forward-thinking person, you have thought about this for certain. What will happen if he or she decides to leave and you are left with debts and empty wallets? In order to get some leverage, you will want to have separated or hidden accounts.
Control. Whether you are a control freak or someone who resents people who like to control others, you will inevitably face the problem, as someone has to run the show when it comes to money handling. The problem arises when one of the partners holds the purse tightly and oversees each spending cost. Inevitably, this leads to the lack of trust, and additionally anger derived from the fact that someone is putting you down and questioning your every move.
Bad planning. You do not have to be inclined to financial infidelity, but if unexpected costs occur and you have the will to sort things out, you will most probably want to make some secret moves in order to surprise your significant other and resolve the situation. And there you are, committing financial infidelity without even knowing.
Financial vs. Emotional Infidelity
Keep in mind that financial infidelity goes hand in hand with emotional detachment. Statistics show that over 80% of people would be upset confronted with the fact their partner cheated on them financially. More than 50% believe that financial infidelity is just as bad as physical and emotional one. However, it is interesting to know that most people would not consider this type of cheating to be the thing that would separate them from their partners, although money troubles are the leading causes of stress in relationships.
So, What Should You Do?
Always be aware that trust is the hardest thing to regain. If you feel the need to keep your money separated, talk about it with your spouse. We are not saying you should do this at any cost. However, if the reasons are well argued, keep separate accounts but make the entire thing transparent.