Posted on 02/17/2014 5:52:19 AM PST by SeekAndFind
A record 1-in-3 American couples is cheating, a shocking study reveals on this Valentine’s Day weekend.
This infidelity is of the financial kind, but no matter — the roller-coaster emotional and economic consequences can be just as devastating as any other betrayal.
From secret credit-card spending on fine dining, bubbly and caviar to hidden receipts for beauty treatments, spas and other luxuries (as well as addictions), couples are financially cheating on each other as never before.
They often get caught during critical turning points — a bad credit score, for instance, might show up after a joint mortgage application. One spouse may have maxed out the credit cards or missed some payments.
“Let me tell you,” said financial adviser Jimmy Lee at Las Vegas-based Wealth Consulting Group, “I’ve seen many situations here in Las Vegas where couples are getting divorced because of gambling or other addictions hidden by a spouse until it is too late to save the marriage.” The numbers are off the financial charts.
Seventy-six percent of respondents to a National Endowment for Financial Education (NEFE) study conducted by Harris Interactive say financial cheating by a spouse has hurt their relationship, 10 percent said it ultimately led to divorce, and 8 percent blamed it for a separation.
(Excerpt) Read more at nypost.com ...
Legal gambling here, the libs in charge couldn't wait to get the tax $$$ booty from it.
What they care if it ruins marriages? They are marrying men to each other to make up for it.
Can we divorce the government when it commits “financial infidelity” against us?
The way to solve this problem is to have three accounts (and not exclusively bank accounts).
The first account is shared, with both husband and wife’s name on it, and is used solely for routine expenses, such as mortgage or rent, water, power and phone, cable TV and Internet, insurance, etc. Thus is should be very easy to “audit” on a monthly basis.
The second and third accounts are personal accounts, with one for the wife and one for the husband, with *just* their name on the account. While this includes a slight risk of delayed recovery by the other if one of them dies, it is *very* reassuring to both that they have a personal reserve, that is for their own use, without consultation.
Importantly, all three accounts need to have regular deposits as well, with priority to the shared account, then an even division of the rest of the income.
A great benefit of doing things this way is that it makes personal luxuries just that. If you want to buy it, it comes out of “your hide”.
In audiophile circles when discussing specs on equipment the mention of a high SAF often comes up.
SAF = Spouse Approval Factor.
Financial dishonesty ruins many marriages. Next to love, financial integrity is the most important thing in a marriage IMHO.
Early in our marriage my wife and I set a limit we each could spend without consultation with the other. 40 plus years ago it was around $20, today it is around $200 (the amount is not a fix one but a suggestion).
Anything over that is considered a “major” purchase and we discuss it. Usually we can come to an agreement. Not always, so the issued is tabled for a later discussion. Sometimes it takes us months to finally agree on a major item.
Lastly, once a month we sit down and go over our financial condition including net worth as well as upcoming expenses. While I pay the bills and keep the check book it is always available for her to look at.
This seems to work for us, not sure how it would work for others.
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