Tag

Financial Infidelity

All articles tagged with #financial infidelity

personal-finance1 year ago•4 min saved

"Financial Infidelity: How a Florida Woman Lost Everything Despite $500,000 in the Bank"

A Florida woman went from having $500,000 in the bank and a mortgage-free home to contemplating bankruptcy due to her husband's financial infidelity, which led to him spending all their money and getting arrested for financial crimes. Financial infidelity is not uncommon, with nearly half of people in relationships admitting to hiding financial information. Cryptocurrency is a common hidden financial secret within relationships, and lack of financial transparency can lead to surprises and financial mismanagement.

via Yahoo Finance|

#bankruptcy #cryptocurrency #financial-infidelity

relationships2 years ago•5 min saved

The Deceptive Act of Concealing Finances in Relationships

Hiding purchases or debts from a partner can lead to relationship problems, according to several surveys. A survey by Edelman Financial Engines found that 39% of married adults admitted their partners didn't know everything about their spending, rising to 50% for divorcees. Another poll by Circuit for Teams revealed that roughly two-thirds of partnered adults hid purchases from their partners in the last year, with an average of $475 concealed. A report by NerdWallet found that one-third of Americans with credit card debt told no one what they owe. While financial infidelity is considered cheating by more than half of respondents in a survey by The Motley Fool Ascent, roughly half of married adults admitted to hiding purchases. Men are more likely to hide spending on electronics, alcohol, and gambling, while women hide purchases of clothing, cosmetics, and gifts for others. Surveys consistently find that younger people are more likely to keep financial secrets than older Americans.

via USA TODAY|

#financial-infidelity #generational-differences #hiding-purchases

personal-finance2 years ago•3 min saved

Dealing with a Dishonest Spouse's Investments: Personal Finance Tips

A reader caught her husband lying about their shared investments and borrowing money for forex trading, which he lost. The husband admitted to prioritizing money over their relationship and wants to rebuild trust. The columnist suggests seeking a couple's therapist with experience in dealing with financial infidelity and setting healthy boundaries. The website Healthy Love and Money is also recommended as a resource for learning to communicate about finances.

via Slate|

#couples-therapy #financial-infidelity #investments

cryptocurrency2 years ago•1 min saved

Husband's Hidden Bitcoin Fortune Uncovered During Divorce Proceedings

A woman in New York discovered that her husband had stored 12 bitcoins worth $500,000 in a previously undisclosed crypto wallet during their divorce proceedings. Divorce attorneys have noted that it is becoming common for people to hide crypto from their partners, with crypto now playing a role in roughly 20% to 50% of divorces they handle. The law is struggling to keep up with digital assets that largely exist outside the reach of centralised intermediaries such as banks.

via NDTV|

#bitcoin #cryptocurrency #cryptocurrency-investment