When we talk about infidelity, it’s important to remember that infidelity is a very different thing for one couple than it is for another. For some, cheating means flirtatious messaging through any medium (text, email, DMs), while others don’t view it as cheating until something physical has happened. Regardless of what the line is for you, most people can agree that what you don’t want has permanent consequences. When considering romantic infidelity, long lasting consequences can mean incurable sexually transmitted diseases from fraud. Or a child. These are the unintended consequences of a potentially brief indiscretion that will then affect the couple forever. If you think about it, you might agree, except for “What exactly happened?” Details. The worst kind of cheating is the one that leads to eternal consequences.
Financial infidelity is also a type of scam that can have ramifications that will ensue on a couple for a long time. Maybe for your life. A failed investment can mean a pension fund is going down the drain. Small secret purchases over time can result in savings that aren’t there but were needed. But financial infidelity isn’t always that scarce and dry. There is a lot to learn. With Dr. Nicole Garner Scott, Finance Coach and CEO at Amount Financial, spoke about this complex issue.
How common is financial infidelity?
“There have been some academic studies that estimate that 41% of American adults admit to hiding accounts, debts, or spending habits from their spouse or partner. Almost half of America do this,” explains Dr. Scott. A survey conducted by CreditCards.com found that 44 percent of individuals hide one checking, savings, or credit card account from a significant other.