Financial infidelity — lying about or hiding money — can cause major problems in a relationship. The National Endowment for Financial Education has a few tips on how to deal with these issues.
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TALK WITH YOUR PARTNER
Talking about money can be stressful. But approach the situation knowing what you want to get out of the conversation and with the attitude that you are working together toward a solution. Try not to be judgmental. When people are put on the defensive, conversations become strained. Broach the topic at a time that is good for both of you.
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GET ON THE SAME PAGE
Decide how you want to manage your money together and how you plan to share information going forward. Establish what the threshold is for spending autonomously, which will vary greatly by couple.
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REBUILD TRUST
If you or your partner has come clean about some financial deception it may take time to rebuild trust. It takes continued transparency, a commitment from both sides to stick to the goals and good communication to help heal.
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For more tips on how working together as a couple, visit NEFE’s site: http://www.smartaboutmoney.org/
