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Is It Ok To Hide Money From Your Spouse - Family - Nairaland

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Is It Ok To Hide Money From Your Spouse by mumumugu(m): 6:33pm On Oct 13, 2014
some say you should stash money away from your significant other. But on the other side of the argument, financial experts say hiding something — anything — from a spouse is a red flag and a sign that you’re in a potentially unhealthy relationship. It can also have legal consequences.
“Hiding money from a spouse is a bad idea because spouses have a fiduciary duty to each other to deal fairly and openly


In these situations, stashing money away is not only a good move, but a smart one:


*.You’re planning to leave an abusive relationship — If you’re a battered spouse, you might fear for your life and worry about how you can leave your domineering significant other. You’ll need to hide money away and slowly add to your emergency fund over time so that you have a financial safety net when you do leave.


*.You’re getting a divorce soon — If you’re about to leave a bad marriage or suspect divorce papers are coming your way, it’s time to start saving your own cash. Depending on how financially dependent you are on your spouse, you might find yourself in a sticky situation.


*.You’re married to someone who is bad with money — If your lover is late with paying the bills, doesn’t know the definition of the word “save,” and hasn’t matched his or her company’s 401(k) plan, you might have to start saving some cash on the side. A spouse who doesn’t manage their money well will only add stress to your life, not to mention your financial situation. It’s in your best interest — and probably theirs too — to have a stash of money on the side.


Aside from these exceptions, keeping money hidden from your spouse — like lying about going on a shopping spree or buying a big-ticket item — won’t help a couple build a more stable relationship, financially or otherwise.

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