What is Financial Infidelity? (2024)

FAQs

What is considered financial infidelity? ›

Financial infidelity occurs when one partner hides or misrepresents financial information from the other, such as keeping secret bank accounts or hiding purchases. It does not necessarily involve marital infidelity, though it can lead to divorce.

While financial infidelity can and has led to the termination of many marriages, relationships can survive if spouses make a mutual commitment to be honest and communicate. Frequently reviewing bills and financial statements together and having ongoing discussions about future goals are essential.

It can be small money lies or big lies, there can be secret spending, secret bank accounts, spending amounts or purchasing items you know your partner wouldn't agree or approve of, or ignoring financial boundaries such as discussing purchases that cost more than an agreed upon amount such as $500 or $1,000.

If you have ever hidden a minor purchase, financial statements or bills from your partner the act results in being financially unfaithful. According to the survey, 75 percent said financial infidelity affected their relationship. Fortunately, financial infidelity is reversible. Talk honestly, become transparent.

Gathering Evidence for Divorce Cases

Bank and credit card statements: These provide a clear picture of financial transactions and can reveal any suspicious activities or hidden accounts.

Essentially, it's when one spouse makes significant decisions about money in secrecy. As a result, it can have dire consequences on a marriage. Almost half of the people surveyed agree that financial infidelity can be as painful and damaging to a relationship as physical cheating.

Is financial infidelity illegal? Financial infidelity, while deeply damaging to the trust and foundation of a marriage, is not illegal in the criminal sense. However, it can lead to legal consequences in the context of divorce proceedings.

Like sexual or emotional cheating, financial infidelity can sink a relationship. But if each partner is willing to put in the work, they can often heal—as well as resolve the underlying issues that paved the way for it in the first place.

For those who admitted to financial infidelity, here are their reasons for not being honest with their partners about money: 37% said privacy and/or control over their finances was their motivation. 33% said the topic never came up and/or they never felt the need to share.

“If you want the relationship to work out, you're going to have to forgive and move on,” Harzog says. “That's hard when you have been betrayed, but if you want to save your relationship, you will have to take some steps to do so.”

Is financial infidelity a reason for divorce? ›

Financial infidelity is a common reason for divorce today. For starters, it can damage a couple monetarily, leading to challenges in meeting financial goals and building a secure future together.

The unfaithful personality

There are consistent associations between infidelity and each of the Big 5 traits. For example, people who cheat in romantic relationships score higher on Neuroticism, Openness to Experience, and Extraversion. They score lower on Agreeableness and Conscientiousness.

Financial infidelity is surprisingly common. But when one partner keeps money secrets or withholds financial information from the other partner, it might be a sign of abuse.

It can be tough to prove financial infidelity in court. You will need concrete evidence that your spouse either has hidden assets or opened accounts in your name without your authorization. You'll need proof of the expenditures your spouse made and be able to prove that they didn't benefit you in any way.

Financial infidelity is surprisingly common. But when one partner keeps money secrets or withholds financial information from the other partner, it might be a sign of abuse. Dear Liz: My sister is married to a man who is considerably older. They've been married for eight years.