7 tips to help you deal with your partner's lies and betrayal
Financial infidelity occurs when couples with combined finances lie to each other about money. For example, one partner may hide significant debts in a separate account while the other partner is unaware.
Kendrick says the chief reasons people lie about money to their partners are pragmatism, control, guilt, and fear. The pragmatic lie may result from planning an eventual split and not wanting the other to know how much money is available.
Financial infidelity is viewed as a “premeditated crime” because hiding or lying about money takes active and deliberate planning. And many people view it as worse than cheating, physically, on a partner. In the case of abuse, this is a completely justifiable “crime.”
The Truth about Financial Infidelity
He May Want To Break Up
He is probably lying to you because he doesn't see a future with you as his partner and he hasn't got the energy to tell you the truth that may upset you or cause you pain. His hiding the truth can also be a sign that he has lost respect for you and that is why he is thinking about breaking up.
If you aren't married, you have no obligation to share the details of your financial life with your partner. And even if you are hitched, there's no law that says married couples have to divulge their finances to each other.
Since California is a community property state, the law applies that the community estate shared between both individuals is liable for a debt incurred by either spouse during the marriage. All community property shared equally between husband and wife can be held liable for repaying the debts of one spouse.
The consequences of hiding money from your spouse or partner
Others hide money because they're embarrassed over the way they handle it. But when partners have financial secrets, it's a sign of deeper relationship concerns. It's never just about the money; money can represent feelings of shame, fear, mistrust, and more.
Hidden debts can impact your divorce by diminishing the value of your marital estate and increasing the balance of various debt accounts you and your spouse have to split and pay off as part of the divorce.
Withholding money, stealing money, and restricting the use of finances are some examples of financial abuse.
Yet No Comments