Financial Infidelity: Marriage and Money
Don’t Try to Hide Your Lyin’ Wallet
Read more about Credit Cards for Weddings
Married people are happier by many measures, yet many marriages are unhappy or fail because couples bring to the partnership significant debt, including student loans and credit card balances, as well as self-deceptions and outright lies about money. Our new research infographic urges couples to take a clear-eyed look at their prospects for happiness if they are not honest with themselves and their partners about money.
“The data shows that it is difficult to build a happy married life on delusion and dishonesty about money,” says Charles Tran, founder of CreditDonkey. Couples must define a financial philosophy or strategy that suits their unique situation, but important questions men and women should ask themselves and their partners before the wedding are:
Four Questions About Money Couples Need to Answer Before the Wedding
Where Does the Money Go Each Month?
How Does Debt Make You Feel?
When Can We Tap Our Savings?
Think about what you would do if a close family member or friend fell on hard times and asked to borrow from your savings. Having a plan and presenting a united front can help a couple when facing a challenging social and emotional situation.
Which Laws Apply to Combining Debts, Income and Savings When Married?
According to the Internal Revenue Service (IRS), some of the factors considered in determining domicile include:
Can marriage survive financial infidelity? Let us know your thoughts.
(Writing by Annette; Graphic Design by Marco)
More from CreditDonkey:
More Articles in Money Tips
With the start of the wedding season, we've put together our recommendations on credit card offers to help engaged couples plan their wedding.
Articles on Financial Infidelity: Marriage and Money
Why is it that we typically have the hardest time talking to our significant other about money, budgets and spending? It would seem simple enough to just live within your means and let it be done. However, there is always an infomercial, big ...
Comments about Financial Infidelity: Marriage and Money
Comments may be filtered for language. CreditDonkey makes no guarantee of comments' factual accuracy. These responses are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Visitors may report inappropriate content by clicking the Report abuse link.
You might also be interested in
More Articles in Financial Tips for Young Adults