20th January: Financial infidelity is one of the main reasons of many failing marriages and it can ruin your marriage too.
Crumbling marriage unions—Financial infidelity to blame– Yes, as per several latest studies, many marriages are falling apart and the reason behind them seems to be financial infidelity rather than romantic infidelity.
It may not seem wrong simply because it is a well-known fact that trust and faith are the vital elements needed for any successful marriage relationship. And any breach of trust and faith is likely to spell doom for a marriage. Be it financial or otherwise.
Is your spouse guilty of financial infidelity?—Financial infidelity seems to be increasingly becoming a common norm. A recent study maintained that nearly 31 percent of Americans admitted being guilty of financial infidelity towards their spouses. And nearly one-third of the participants admitted they were deceived by their partners.
10 common money mistakes couples make—
- Not discussing finances—Are you taking time to talk about financial issues? Remember, its necessary for any couple to discuss finances. And also find your financial commitments as a couple and stick to them.
- Hiding purchases—Are you not telling your spouse about something you purchased just because you fear your spouse may get upset? Its one of the common financial mistakes couples make.
- Lying about price-tag purchases—Hiding about purchase prices can prove to be a big mistake affecting your marriage.
- Loaning money to family or friends—Are you(or your spouse) giving away a sizeable portion of marital funds to family, friend or any relative? It’s a step towards ruining your marriage.
- Money no substitute for love—Do you think that money is a substitute for love? Well, the reality is that providing your spouse with materialistic living cannot, in any way, be a substitute for love.
- Saving funds or socking money—Sometimes, a spouse saves money for future use but does so without the knowledge of his or her spouse. And the fact is that such socking of funds can cause a damage to your marriage. So, avoid such savings.
- Irresponsible spending—Are you involved in irresponsible spending, be it any loan debt or using credit card? It can prove damaging for your credit score.
- Not recognizing money matters—Money conflicts affect a couple emotionally too. And it is also a fact that men are affected by financial conflicts more than women.