Welcome back. We’ve been talking about whether or not cheating on your bank account, or hiding money and credit cards from your spouse, can cause a divorce. As it turns out, many people think it can. In fact, as we pointed out in the previous article, A full 31% of married people believe that hiding money or financial assets from your spouse is worse than having a sexual affair!
BUt not everyone agrees with that statistic. Some people see a lot of wisdom in having a little nest egg tucked away for rainy days. Whether that rainy day is a tough time for your family financially, or the end of your marriage. What do you think? Here are a few thinking point to consider as you make your choice:
Why it might be a good thing for your marriage:
- If your spouse has terrible spending habits, or very bad credit, having a little cash stashed away might save you during a rough time.
- For people who came into the marriage with debt (like student loans) that they were too embarrassed to share, this could allow them to quietly pay them off with a minimum of fuss.
- Having a little cash socked away will allow you to help out a friend or family member in a time of need without dipping into your joint bank account
Why it might be a bad thing for your marriage:
- Keeping secrets and hiding things from your partner doesn’t create an environment of honesty and transparency in your marriage.
- If you happen to get busted, or feel compelled to come clean, chances are your spouse won’t trust you in the future.
- Some marriage counselors say that hiding one thing from your spouse, can make it easier to hide other things from them in future (the ‘slippery slope’ theory!)
- If you get divorced, and you don’t share that info and it comes out later, you could be accused of hiding assets.
Financial issues often lead to contentious divorces
Money is all too often the source of stress in a marriage. Whether it’s disagreements on spending, unmet expectations with regard to earnings, or secret cash stashes, it can wreck a relationship! Secret shopping trips, gambling debts hidden away, and unshared bank accounts – there are so many ways that money mismanagement can cause divorce.
If you or a loved one are considering divorce, whether it’s because your spouse held out on you, or you’re the one who made questionable financial choices, call The Kronzek Firm today at 866 766 5245. Our experienced divorce lawyers can help you work through this difficult time, and achieve the best possible outcome for your future. We’re available 24/7, including nights, weekends, and holidays.