About a third of Americans who have combined finances with a partner admit to committing some form of financial infidelity, according to a recent survey by the National Endowment for Financial Education (NEFE).
About 30% have hidden a bill or other statement 16% concealed a major purchase 15% admitted to having kept a secret bank account 11% lied about their debt Mysteriously, 11% lied about their incomes
And about 80% of all married folks hide some spending from their spouses, according to a 2010 survey by CESI Debt Solutions.
You don’t need us to tell you that if fiscal deception can create a vast, nationwide, mortgage and banking meltdown—it can also do serious marital damage.
How to restore financial peace, love and understanding?
Keep some money separate. Each partner needs some financial privacy, says New York therapist Barbara Nusbaum, Ph.D. More ways to cope with money secrets here. Take a quiz that can help identify where your values are in conflict (a major cause of financial infidelity, experts say).
Share the love. What’s the best way to tell your partner that you’ve lied about money—and want to set things straight?
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