Financial Infidelity

by Karen DorseyJul 6, 2020

We often think of infidelity in terms of emotional infidelity or sexual infidelity. Infidelity can also hit your finances when your partner spends, borrows, withholds, or hides money. A 2018 Harris Poll found that 41% of Americans who combine their finances with a partner, admit to some form of misbehavior.

The Why Of Financial Infidelity

Financial experts, therapists, and divorce lawyers say that the reasons for financial infidelity fall into several key categories including addictions, revenge, social pressure, different values, anxiety, and self-preservation.

Clearly, there are many reasons why, but as you know, this kind of deception often leads to divorce. When one spouse is involved in making financial moves without the knowledge of the other spouse, it will affect both of you. The fundamental trust and communication in a marriage is being tested.

When a spouse discovers a credit card statement from an account they were not even aware existed, the fundamental trust and communication between the spouses is challenged.

The tricky aspect of financial infidelity is that it can be hard to detect at times. You might have a sense that something is amiss with your finances, but actually finding out what’s really going on may require the help of a financial expert who deals with these issues on a regular basis.

What Should You Do?

If you’re in this position with your spouse and you’re divorcing, there are huge consequences you must be aware of.

One of my clients came to me because she discovered that her husband had gambled away $60,000 of their retirement money. Yes, she knew he had a gambling addiction, but did not know the extent of his problem. She was devastated and needed help in finding a way to cope with the emotional fallout from this betrayal.

She also needed guidance on how to deal with the financial betrayal and how it would affect her future and her settlement.

Please Don’t Wait And “Hope For The Best”

If you’re afraid of what you might find out, keep in mind there are professionals who handle these situations every day. Schedule your complimentary initial consultation with us today so that you can feel confident that you have all the information you need to make informed decisions about your financial future.

Let’s Get Started

Let us help you have a smarter divorce, no need to waste thousands in a court battle. We will contact you to set up your Smarter Divorce Strategy Session.

In Your Strategy Session We’ll:

Explore your divorce options and get clear on the right solution for your situation
Review your financial situation and explore creative settlement possibilities
Map out a plan for transitioning to the next phase of your life
Identify your biggest fears and decide the best way to address them
Connect you with any other resources you’ll need in your process

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Certified Divorce Financial Analysts (CDFA®) who keep the cost of divorce low, while being committed to a kinder, gentler divorce process for all involved.

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