Financial Infidelity

I came across a really interesting article today. Have you heard of Financial Infidelity? I hadn’t till now. According to Wikipedia, Financial infidelity is a term used to describe the secretive act of spending money, possessing credit and credit cards, holding secret accounts or stashes of money, borrowing money, or otherwise incurring debt unknown to one’s spouse, partner or significant other.

I can see how this kind of thing takes place but do you think its rampant in Sri Lanka? A recent study in the US shows that some 13% of marriages end up in divorce due to this phenomenon.

I have attached one of the articles I read below.

http://money.cnn.com/2011/06/29/pf/marriage_and_money/index.htm?iid=HP_River&hpt=hp_c2

 

There seems to certainly be more than one way of cheating on your spouse! However, I can’t imagine not telling my husband what I earn or if asked what I spend. We do have a very modern way of handling money. He pays the mortgage and I cover the balance expenses because we don’t like having joint accounts. Whatever extra each gets in terms of bonus’ and incentives is their own business I think. As long as we are both comfortable, have food on the table, go on holiday etc is it really necessary to know everything your spouse earns?

Wouldn’t you think it’s an invasion of privacy? Would you consider financial infidelity, a form of cheating?

Photo Credits: http://www.8womendream.comhttp://mywifehadanaffair.net/

 

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Comments
2 Responses to “Financial Infidelity”
  1. Jack Point says:

    I think this is rubbish. Some people have absolutely no sense of money, leave everything in a common pool and they may spend the lot.

    I have a friend who is like this and so is my mother. They can spend huge amounts of money and not know what they spent it on.

    The only way to avoid financial ruin or even destitution is separate accounts.

    This does not mean than expenses should not be shared; I think they should be on a 50:50 basis but if one is dealing with a someone illiterate if finances then separate accounts are necessary.

    Debt is a burden, so taking on debt without the knowledge of a partner is a no-no,

    • Resident Princess says:

      Debt is definitely a burden but its hard to share things 50:50 when both partners aren’t earning equally. I think its a decision each couple needs to make at the outset.

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