Financial infidelity? It's more common than you think - WNEM TV 5

Financial infidelity? It's more common than you think

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Do you have a secret bank account? A credit card that you've never told your partner about? Apparently, financial infidelity is more common than you think. 

An estimated 12 million Americans admit to keeping a source of money secret from their significant others, according to a new poll from CreditCards.com.

Experts warn, though, keeping a hidden bank account or credit card could have potentially fatal consequences for your relationship.

“Any time you get into these kinds of things where you are operating behind the scenes, it usually comes out at some point,” says Corey Allan, a marriage and family therapist in the Dallas area. “We can’t keep things hidden, especially in today’s technological world. Any spouse who has any kind of suspicion can become a detective and find it.”

According to the poll, 5 percent of those surveyed said they are in a serious relationship and confessed to concealing a source of money, with older Americans more likely than younger generations.

Experts said the secrecy comes from the human desire to cling to one’s identity.

“It falls under the umbrella of, ‘I love you, but don’t tell me what to do,’” he says. “When you hit threshold areas of identity, that’s a natural pressure that happens in a relationship on every topic. … Marriage brings that stuff to the forefront. I can either fight my partner, or I can fight myself and realize maybe I do need to grow up in how I view money.”

The solution? Experts said the best approach is to be upfront about your financial situation and continue having discussions throughout your relationship.

They also suggest clearing purchases of more than $100 with your partner beforehand.

Check out the full study here.  

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