How Financial Secrets Can Ruin A Relationship

What do you think when you hear about people keeping secrets from their husband or wife? You probably don’t think anything good. I know I don’t. Imagine if the secrets are about money or money related issues. That could cause a plethora of problems in any relationship. Financial secrets have been known to ruin quite a few relationships in more than one way.

Trust

Relationships are built on trust. If you don’t have that, you can pretty much consider your relationship over. Finances are a touchy subject for some people, but if you’re in a serious relationship, you must take the time to discuss them. If you’re hiding something money related from your significant other, they may wonder what else you’re hiding. Whether it’s debt or other accounts, you should talk to your spouse about it. Your relationship could very well depend on it.

Financial secrets can have you second guessing a lot of stuff in your relationship. If your spouse has a lot of debt that he or she failed to mention, they might have a serious spending problem. Knowing things like that, in the beginning, could help you avoid potential heartache. Once you’re married, that debt isn’t just his or hers anymore, it’s both of yours. Everyone isn’t able to handle something like that. Before either one of you is in a situation like that be upfront and honest about your finances.

Disrupt your life

Financial secrets can disrupt your life. If one of you have a spending problem, it can mess up all of your accounts. For example, imagine that you’re using a joint account to pay some bills at the beginning of the month. If your significant other uses all the money in the account to buy some fancy shoes or clothes, that would be a big problem. You wouldn’t have any cash in that account to pay your bills which are much more important than clothes. That would cause a huge inconvenience. Using the joint account without your spouse’s knowledge isn’t cool. That would make almost anyone mad.

Financial secrets can also have one partner carrying more of the financial load than they initially thought. Every couple is different when it comes to finances. To make sure you and your partner are on the same page, discuss what you will both pay for each month.

What can you do to prevent this type of problem?

The main thing that you can do is not have any financial secrets between the two of you. In a perfect world, everyone would follow that advice. No one would hide anything from their spouse. Unfortunately, that’s not the case. Some people hide and keep thigs from their loved one because they are ashamed. They don’t want them to know that they have money problems. To possibly overcome those problems and keep the relationship, you should discuss everything with them. It may not be easy, but you will be so glad that you did.

Is there ever a reason why someone should keep a financial secret from their partner?

Jason Butler

Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.