Every relationship experiences some level of financial stress, especially if you live outside of your means or struggle to budget correctly. However, with some focus and discipline, these financial issues can be solved. The problems arise when one indulges in financial infidelity and spends money on various things without telling the other. This could be because of substance addiction, gambling, or uncertain investments. Whatever the reason, it can severely harm a relationship.
It Breaks the Trust
Trust is crucial to any relationship. You both need to be honest with each other about everything and ensure strong communication. With something as delicate as money, it can be challenging (and sometimes impossible) to rebuild the trust that has been broken. Secret payments and frivolous spending can put significant strain on any relationship, and the more one of you hides these issues, the more damaging it will be once the truth comes out–and it will always come out.
It Increases Secrets Kept
Keeping secrets is never a good idea as it can be tricky to keep track of the lies or excuses you have come up with to cover money problems. This often happens if one of you is hiding something serious, such as an addiction. Being honest and taking steps to solve the problems caused by these secrets will clear the air and can start the process of repairing your relationship. If you are guilty of secret spending caused by alcohol addiction, seek treatment at an alcohol rehab center to demonstrate your willingness to change and eliminate secrets from your relationship.
It Could Damage Your Future
Financial infidelity can severely impact your prospects and opportunities. Various expenses will come up during your relationship, such as savings, childcare, and vacations. However, if one of you is spending frivolously without the other knowing, there is the risk that you cannot afford these essentials. This issue could put your future in doubt as you cannot afford the fundamentals. You may need to sell your home or move out of a rented property, and you may need to move in with friends or family until you get back on your feet, which could harm your relationship.
It May Require You to Work More Hours
You may also need to work more hours to fix the costs you have incurred because of financial infidelity. Your partner may also need to work more even though they were not responsible for these problems. Besides the strain caused by financial issues, working too much can affect your marriage as you never get to spend time together. This means that the love you once shared will dissolve and there is only resentment and exhaustion left.
Financial infidelity can have a significant impact on your relationship and many instances are hard to come back from. As a couple, you want to be open about how much money you make and how much you spend so you can adequately plan for your future and live the life you both want and need. By understanding the impact of financial infidelity, you should understand why honesty about your money is the only policy you should consider.