The way that spouses treat each other can lead to a healthy, happy relationship or slowly destroy the dynamic between them. Marriages, like any long-term relationship, require trust and goodwill on the part of both parties. When one spouse lies or demonstrates a lack of trust in the other, their behavior can cause real damage to the bond between the spouses.
Financial infidelity is one of the top-reported causes of modern divorces. Financial infidelity is frustrating because it involves dishonesty. It also potentially exposes a lack of trust in a spouse. What types of behaviors might constitute financial infidelity and impact what occurs during a divorce?
Lying about income and assets
When one spouse doesn’t trust the other, they may not want to fully share their resources. They might have always misrepresented how much they earn or what assets they already own. They may do this to avoid their spouses taking advantage of them.
However, these actions display a lack of trust, which is problematic for a healthy long-term marriage. Additionally, the lying spouse may put an unfair burden on the other spouse by withholding information about assets or income that could improve the couple’s standard of living.
Hiding financial behavior
Many cases of financial infidelity involve people hiding debts and spending habits rather than income and assets. Maybe one spouse can’t stop ordering from online shops and spends hundreds of dollars a month on cheap imported merchandise. They may try to hide their habits from their spouse by sending packages elsewhere and intercepting financial statements.
Some spouses open secret lines of credit to support their shopping habits. Alcoholism, gambling and adultery can also lead to financial infidelity in the form of hidden debts and spending.
In cases where financial infidelity resulted in inaccurate disclosures when spouses negotiated prenuptial or postnuptial agreements, that dishonesty could invalidate the contract between the spouses. When discovered, financial infidelity can destroy the trust and respect that are necessary for a healthy marriage. The hidden resources or financial obligations of one spouse could also impact the outcome of divorce proceedings.
Learning more about financial infidelity and other issues that can cause or complicate divorces may be beneficial for those concerned about their marital circumstances. Spouses who uncover financial infidelity may decide to file for divorce or may need to adjust their strategies during divorce because of the financial misrepresentations that occurred.
