January 27, 2011

Financial Infidelity – A Cause for Divorce

Posted in Divorce tagged at 11:19 am by demetriagraves

As a family law attorney, I’ve seen people get divorced for all sorts of reasons. Most people are familiar with infidelity as a major cause of divorce and there have been plenty of celebrity divorces that have seen infidelity as a major cause of the break-up.  We all know that successful marriages are based on honesty and trust – so does financial infidelity cause divorce? Financial infidelity is defined as cheating on one’s spouse with cash and credit cards by being dishonest about what one is spending and even hiding bills and bank accounts.
Some recent studies in this area have found that 58 percent of respondents conceal cash from their spouse, 30 percent hide bills, and 15 percent hide bank accounts. Marriage is all about negotiation, compromise, trust, and not deceiving each other, so often financial deception can point to a bigger layer of deception underneath. One study found that, 68 percent of the time, financial infidelity has had a negative impact on relationships, with 16 percent of marriages ending because of it.

So keeping your spending secret or hiding some cash or bills may seem harmless but it seems that this can lead to a slippery slope of deception. Some may even argue that if one spouse feels the need to hide spending or cash that this is an indicator of other underlying problems in a marriage. As I said at the outset, I’ve seen marriages break down for all sorts of reasons and if you find yourself in a marriage that is ending, no matter what the reason, please don’t hesitate to get some advise from a family law attorney, who will be able to answer all your questions and make sure you are on the right track regarding the divorce process.

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