Your Spouse's Financial Secrets

Your Spouse's Financial Secrets

Your Spouse's Financial Secrets

Justin Lavelle
May 4, 2016

We’ve emphasized the importance of communication on some crucial topics before you get married. And any good pre-marriage counseling program will lead you through the delicate conversations about money to ensure you and your spouse get on the same page before you make a life-long commitment.

But what about money rules those who are already married?

A new study reveals quite a gulf between men and women’s ideas of acceptable financial behavior. Business Insider reports the shocking differences:

  • A third of adults admit to acts of “financial infidelity” such as keeping a secret bank account and of those who have a secret account, 61% were male and 39% were female.

  • Men report being comfortable spending up to $1,259 before feeling the need to report the purchase to their partner, while women would alert their partners after just a $383 expense.

  • Many spouses are in the dark about their partners’ financial situations: 25% did not know his or her spouse’s income and 40% did not know his or her partner’s credit score.

When it comes to money, ignorance definitely isn’t bliss, with fights over money being a top contributor to divorce in North America. The same Business Insider article reports that 76% of those who admitted to acts of financial infidelity, such as keeping money secrets from a spouse, felt it impacted their marriages, while 39% noted that a spouse’s credit score had already been a source of stress within their marriage.

The message seems to be clear: get money issues out in the open early and think twice before intentionally keeping your spouse in the dark on financial matters. The happiness of your marriage could depend on it.

Disclaimer: The above is solely intended for informational purposes and in no way constitutes legal advice or specific recommendations.