Money Can Tear Relationships Apart
Think about your significant other. Now before you get all googly eyed, when was the last time you had an open discussion about finances with your partner?
Thirty-one percent of people who share finances with a partner say they’ve been deceptive about money, according to a recent survey by the National Endowment for Financial Education, or NEFE, a Denver, Colo.-based nonprofit.
More often than not it’s usually ONE person in a relationship that controls the finances. Don’t let that be you, get smart about money.
More than half of those respondents say they’ve hid cash or a minor purchase from their partner at some point. Even worse: 34% said they flat-out lied about debt or income.
According to NEFE, 14% of couples who were recently married or are getting married soon don’t even discuss money before tying the knot.
“If you are getting into an adult relationship, have an adult discussion about money,” said Ted Beck, president and CEO of NEFE. “Setting some ground rules will avoid fights down the road.”
4 Ways To Tell If Your Spouse Is Being Dishonest About Money
- When they are resistant to a conversation about finances or become argumentative or angry when you discuss finances.
- When your partner makes a big purchase without talking to you first.
- When you find bills for items you didn’t know about.
- When you discover new lines of credit open in his — or worse — your name.
If you’re noticing one or more of these behaviors – it’s definitely time to sit down and have a DEEP discussion with your significant other.