Each year, many couples divorce and split over finances. Some couples struggle with excessive debt and have a hard time agreeing on major financial decisions. Another factor that causes marital discord and relationship problems is financial infidelity. Financial infidelity is becoming a major problem for many couples.
What Is Financial Infidelity?
Financial infidelity can involve taking out a credit card secretly. It can mean making purchases and going to great lengths to conceal those purchases from the other party. It can also involve one party accumulating massive amounts of debts without sharing that information with others. These secretive behaviors can really tear couples apart. Many are unable to resolve these issues without some form of professional counseling.
How Common Is Financial Infidelity?
Half of all married adults have admitted to keeping financial secrets from their spouses in a Self.com survey. In that same survey, 56 percent of women and 37 percent of men reported lying about money in a poll. In that same poll, 32 percent of women reported hiding purchases from their mates while only 17 percent of men report doing the same. When men and women were asked how important it is to be open about finances, over half of the respondents stated that it is just as important as being faithful to a partner.
How Can Credit Counseling Services Help a Couple Work through Debt Problems?
Credit counseling services from Credit Guard can help a couple get their finances back on track. Couples concerned about building a solid future together can consider extensive counseling. Some couples can look into credit counseling to resolve debt problems that may result from issues like financial infidelity, student loans or medical expenses. The counseling can be just what the couple needs to structure and resolve their debts. Many couples have successfully paid off thousands of dollars in debt through credit counseling services and debt consolidation programs.
Many couples actually end up splitting up over debt and finances. A credit counselor can help the couple develop a solid budget, savings plan and debt strategy to help the two get back on the same page. Any couple that wants to get their finances in order may find that working together with an unbiased personal finance counselor can make a world of difference.