The word infidelity is most commonly used in the context of being physically unfaithful in a marriage. Nonetheless, infidelity can occur in other contexts, such as financial infidelity.
Financial disputes are among the leading causes of divorce in the U.S. and these disputes generally involve some form of dishonesty. What are some of the more common examples of financial infidelity between spouses?
1. Not disclosing debt
When a couple is getting to know one another, they typically try to display their best sides. It may not be appropriate to talk about debts in the early stages of the relationship. However, this should not be carried over into the marriage. Married couples are supposed to share the good and bad, and work through challenges together. When one spouse finds out that the other has concealed significant debts, this can result in marital troubles.
2. Not discussing major purchases
While each spouse should retain a certain level of independence, major financial decisions must be discussed. For example, if one spouse wants to use the entirety of their savings to invest in a business. Shutting the other spouse out of major financial decisions like this can break down the trust in a relationship.
3. Having separate accounts
Each spouse having a separate bank account is not necessarily an issue per se, but it can become a problem if not managed appropriately. If one spouse is completely shut out of an account because they don’t have the password, then this can foster feelings of suspicion and mistrust. Financial transparency is important in a marriage.
If you and your spouse aren’t on the same page with finances, then the marriage could be in trouble. It may be time to consider your legal options.