Lying to your spouse about anything is not good. Lying about money is particularly bad form. It can do long-lasting damage to your relationship, undermine trust, and also impact your ability to meet financial priorities you may have set as a couple. Yet, many will lie, or at least lie by omission, about various aspects of our financial lives due to shame, worry or lack of confidence, or because we simply don’t think it’s a big deal. It’s not worth it! A problem shared is, after all, a problem halved, and these things have a habit of coming back to haunt us in any case.
7 Lies You Should Never Tell Your Spouse About Money
With that in mind, here are 7 lies you should never tell your spouse about money.
1. “I Totally Got That on Sale!”
Ah, the classic ‘sale’ story. It’s as old as time (or at least as old as retail therapy). Whether it’s a new gadget or a designer bag, pretending you snagged it at a steep discount is a slippery slope. Remember, the truth often comes out, especially when your spouse stumbles upon the receipt. The real price tag? Shock. The look on their face? Priceless.
2. “I Don’t Have Any Debt. Nope, None at All.”
Playing the ‘debt-free’ card when you’re actually juggling credit card bills, student loans, or that secret stash of emergency pizza money is a no-go. Debt is like that one relative everyone has – not fun to talk about, but better out in the open. Plus, keeping debt a secret can be a dangerous – eventually, something’s going to drop. It’s better to talk about it and explore options like a loan from Evolve Bank & Trust or a budget to help you clear it quickly, instead, right?
3. “I Definitely Didn’t Lend Money to My Buddy Steve.”
Lending money to friends or family and keeping it hush-hush from your partner is like trying to smuggle a giraffe through customs – it’s hard to hide and bound to cause issues. Transparency is key. Otherwise, when Steve shows up driving a car that suspiciously looks like it’s funded by your secret loan, things might get awkward.
4. “My Salary? Oh, It’s Nothing Impressive.”
Whether you’re downplaying your earnings to avoid making your partner feel bad or exaggerating them to boost your ego, honesty is the best policy. Misrepresenting your income is like playing poker with your paychecks – sooner or later, you’ll have to show your hand.
5. “Investments? What Investments?”
Playing the stock market or dabbling in crypto without your spouse‘s knowledge is a risky business. It’s like deciding to pilot a plane with zero experience – sure, it might take off, but landing it safely is a whole other story. Financial decisions, especially risky ones, should be a team effort.
6. “Of Course, I Paid That Bill!”
Forgetting to pay a bill is human. Denying it outright? That’s a recipe for disaster. When the lights go out or the internet suddenly stops, your ‘little white lie’ becomes a glaring issue. It’s always better to admit a slip-up than to craft a tale worthy of a soap opera.
7. “I Have No Idea Where That Money Went.”
Mysterious disappearing funds? Unless you live in a haunted house where ghosts have a thing for online shopping, it’s better to fess up about where the money is going. Financial transparency is crucial – it’s like having GPS for your joint funds.
When it comes to finances, honesty is the best policy!
Thank you as always for reading.
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Joan Senio is the founder of KindCompassCoach. Her career includes 20+ years as a private sector corporate executive and 15 years as a consultant. The common thread through her professional life has been a commitment to compassionate coaching and leadership, including mentoring early and mid-career professionals as well as current and future executives and leaders. KindCompassCoach articles are backed by research and include facts and advice from relevant experts. Joan is a member of the International Organization of Life Coaches, serves as a thought-leader for KuelLife.com and is a regular contributor to PsychReg and Sixty and Me.
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