Financial Infidelity Devistates Families-Don’t Cheat With The Checkbook –Dave’s Diary
One in three U.S. couples cheats according to a New York Post report of a nationwide survey conducted by Harris Interactive for the National Endowment for Financial Education. That’s right; we’re talking cheating with money!
Financial infidelity can be just as devastating as sexual infidelity, creating the same emotional and economic consequences. Financial infidelity typically involves secret -- and often excessive -- credit card spending, as well as hiding receipts and purchased goods. It can take a while to get caught, but the reckoning comes when a bad credit score surfaces as you're applying for a loan, the credit card is maxed out or a credit card payment is missed.
Who are these financial cheaters and how do they cheat?
- 33 percent of American couples admitted to financial infidelity in 2014, up from 31 percent in 2010.
- Of those who cheat financially, 76 percent say it has hurt their relationship, 10 percent admitted it led to divorce and 8 percent blamed it on a separation.
- 30 percent said they concealed a purchase, bank account, statement, bill or cash from the other.
- 10 percent lied about their finances to their spouse, which included earnings and debt.
- And there isn't much guilt! 35 percent insist that some part of their finances should be private -- even from their spouse.
What can you do to stop financial infidelity in your relationship? The National Endowment for Financial Education advises a three-step solution:
- Couples must compromise. They should have a joint checking account with each person receiving monthly "play money" with a preset limit. Any expenditure over $200 should be agreed upon jointly.
- Talk regularly about how you are managing your money.
- Do not keep financial secrets from each other.
We would like to suggest a fourth solution. Attend the Total Money Make over Live event at the Capitol Theater on Aril 12th.
If you’ve wanted to know how to take control of your money but haven’t known where to start, Total Money Makeover LIVE! is the first step. Join Dave Ramsey’s chief financial coach, Chris Hogan, and get on a proven plan that will make a huge difference in your life. It’s worked for millions across the country, and it will work for you too!
At this event, you’ll learn:
- What it takes to get out of debt
- How build a budget that works
- How to save like never before and invest with confidence
- How to relate to your spouse and kids about money
- It’s one day that will change the course of the rest of your life.
Take the first step. Reserve your seats now!
Doors open at 12:30 and the seminar begins at 1:30 sharp. Reserve your VIP pass to meet Chris in person before the event at noon.
Every participant will receive a workbook for use, and those who want to take the experience to the next level can join us for a VIP Meet & Greet before the seminar at noon.
- VIP, Including Meet & Greet: $76
- General Admission: $30.50
Read More: Dave Ramsey’s Total Money Makeover LIVE is Coming to Yakima – April 12, 2014 at the Capitol Theatre | http://newstalkkit.com/dave-ramseys-total-money-makeover-yakima/?trackback=tsmclip