Is Your Partner Cheating on you Financially

Posted on by Emily in Saving Money & Finances

Is Your Partner Cheating On You Financially – Many people are shocked to learn that their partner is cheating on them financially. To clarify, this relatively common occurrence is when one partner is dishonest about how they’ve been spending shared money.

Everyone has to deal with money issues in their lives, but the worst are the relationship-killing kind. We might all have to deal with personal debt, identity theft or low funds in the bank account but those are our own personal problems. Once you begin sharing your life with another person you also end up sharing your financial future together– and that can get tricky.

I’ve heard that money issues are one of the biggest catalysts for divorce. While the agreement ‘for richer or poorer’ may be uber-romantic when exchanging vows, the reality is financial struggle can put a huge strain on a couple’s happiness. Financial infidelity might even be worse.

Is Your Partner Cheating on you Financially

Forbes Magazine recently published an article on the matter. They wrote:

“Financial infidelity may be the new normal. In a recent survey, one in three Americans (31%) who have combined their finances admitted lying to their spouses about money, and another one-third of these adults said they’d been deceived.”

Sadly, this reminds me a lot of the mentality of some married people I know. One individual I know feels financially constrained by his partner and will often make big purchases without her permission. His mentality is that it’s “better to ask for forgiveness than permission”. When he applied this theory to purchasing a Harley Davidson, he put his marriage on the rocks.

“Among couples impacted by financial infidelity, 67% said the deception led to an argument and 42% said it caused less trust in the relationship. Perhaps most alarming, 16% of these respondents said the money lie led to a divorce and 11% said it led to a separation.”

A healthy relationship is built on trust. It’s hard though– everybody believes money should be spent differently which makes it hard if you share finances. The breakdown of financial deceit looks something like this:

“According to the survey, over half of all financial cheaters admitted hiding cash (58%) or minor purchases (54%). NEFE’s Beck says this is particularly concerning, as small lies often compound over time to become increasingly larger and more harmful deceptions. Of the offenders, 30% have hidden a bill, 16% have hidden a major purchase, 15% had a secret bank account, 11% lied about their debts and another 11% lied about the amount of money they earned.”

If you suspect your partner is cheating on you financially, it’s best you confront them. Communication, as usual, is key. If you sit down and talk about the issue, you can work out a system that works for both of you.

Is Your Partner Cheating on you Financially

Related: Marriage-Killing Money Issues

Is Your Partner Cheating On You Financially

Tags: financial cheating, money relationships