Financial Infidelity

Financial unfaithfulness is widespread. That’s the apparent conclusion of a new survey conducted by Yahoo and research firm Decipher. It found that about half of all people in a serious relationship have committed some kind of financial indiscretion. According to an article about the survey on Yahoo Finance, the deceptions include lying about he cost of a purchase or hiding it altogether, secretly racking up credit card bills, and keeping a hidden savings account. Women were more likely than men to acknowledge being financially untrue (55 percent vs. 41 percent).

No wonder money is such a common source of conflict among couples. While it’s becoming less and less the norm, I encourage married couples to combine financial accounts that can be combined. Doing so promotes openness, communication, and teamwork.

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