For married couples, finances should ideally be shared openly between both parties. However, because of the personal nature of money, it is not uncommon for one partner to discover that their spouse has been engaged in financial dishonesty. “Financial infidelity” can take many forms. Some partners hide their debt; others try to hide assets so they can have a nest egg should there be a divorce down the line.
When one partner keeps their financial habits completely secret and presents a false appearance to their partner, it can put both their lives in a very difficult position. In many instances, a spouse will become aware of a partner’s financial infidelity only when it’s too late and the damage has been done.
For anyone who is married in community of property, it’s even more important to be aware of your partner’s spending habits as they will have a direct impact on you should you find yourselves in the divorce court. It’s not uncommon for people to discover their partner’s financial woes during an important process, like buying a house, where the couple has to share information about their spending and income in the form of bank statements.
It’s difficult to talk about money, but with financial disputes being one of the top strains on marriages today, having an open channel of communication is necessary if you want to have a happy relationship. If you suspect your partner is being unfaithful financially, below are some behaviours they may display.
Your partner knows everything about your finances, but you have no idea what’s going on with theirs.
If you are in this situation, have an honest conversation with your partner about accountability and transparency when it comes to your finances.
Your partner constantly buys new clothes and other big-ticket items without consulting you, but this isn’t in line with household spending or their income, if known. Extravagance is a red flag, especially if your partner is a compulsive shopper and can’t possibly afford the things they buy. They could be working up hefty debt and keeping it a secret.