Cheating is Cheating

Cheating is Cheating Almost all of us have an opinion on infidelity. Whether its a one night stand or an affair spanning years, cheating is cheating. Some people blame their partners for cheating and others hate the home-wrecker. When the home-wrecker isnt a person Cheating is cheating and financial infidelity is on the rise. In fact, 34 percent of couples say that theyve committed financial infidelity at some point in their relationships. Financial infidelity doesnt even have to be something as big as hiding money or getting a huge loan without telling your partner, it can even be one of the following: Pretending something is old when you actually just bought it Lying about debt Hiding shopping bags in the back of your closet Hiding a bank account Getting a big loan without telling your partner Hiding a bill or an account statement Lying to your partner about the cost of an item How to avoid or overcome financial infidelity 1) Communication Being able to openly talk to each other is the recipe for a happy relationships and this is especially true when it comes to money. Most couples dont even talk about money unless something is wrong or someones spending is out of control.   Sometimes expectations arent realistic, which is one reason people lie about money. Talking about money early in a committed relationship allows for a chance to set expectations. 2) Involvement Couples are essentially in a partnership and in any partnership, both should be involved in making financial decisions and goals. Theres always one person in a relationship who takes care of paying bills and daily transactions to keep expenses covered and thats fine. But giving your partner complete control without knowing anything about whats happening financially in a relationship can lead to disaster. Making financial goals together means that both agree on spending habits as well. 3) Transparency You may be thinking its only a dress, but small purchases add up and its more about the habit of being dishonest about money rather than that actual purchase. Being transparent doesnt mean that you have to get permission, but you being open about what youve bought or plan to buy gives your partner the chance to prepare. It sets the tone in a relationship as well and as long as youre both working towards your goal, theres no need to hide anything. Just like having an affair, couples can either be ruined by financial infidelity or manage to rebuild their trust and relationship afterwards. They key is to recognize that its a serious issue and find a way to create financial trust.  Have you ever lied about money in your relationship?