Money problems is considered the number one reason for divorce. It can be tough living with someone who has the opposite mindset than you do when it comes to money. For example, what do you do if you’re a saver and your spouse is a spender? There are ways to work on that together, like putting together a budget that makes both of you happy.
Yet, spending can become a problem. This is especially true if your spouse isn’t being honest with you about what they’re doing with the money. You might not know that they took out a credit card without telling you. What about taking out a loan? These things happen all the time. If your spouse isn’t honest with you, it can come back to haunt you.
Let’s take a look at 5 red flags your spouse is hiding money problems from you.
1) Has Difficulty Being Honest about Money
When you’re first seeing someone and things are becoming serious, usually they’re open about things in their lives. Sometimes, the opposite is true about things they want to hide. Financial problems are on that list. If they don’t want to tell you about how much debt they have, that should be a red flag. If they wave off talking about their student debt, they probably have a lot. There’s a lot of shame that goes with having debt. Many potential partners might consider that a deal breaker. If they’re not open and honest about it, they might have something to hide.
2) Guards the Mailbox
If someone has debt, the odds are good they will receive letters in the mail. Maybe it’s a credit card statement or a letter from a debt collector. Either way, someone is being fishy if they’re always quick to jump at the mail. It might mean they are trying to prevent you from finding something.
3) Has Addictive Behaviors
Financial difficulties are often the result of other types of addictive behavior. Imagine a drug abuser who has to do whatever they can to get their next fix. Even average people have things they’re ashamed of and addictions they can’t seem to deal with. In that same light, they will waste their money on their addiction, whether it’s drugs, gambling, or whatever it is. When that happens, it’s difficult to hide the money lost. That’s when they get into doing shady things, like taking out a loan or getting a new credit card.
4) Unsure How They Purchased Items
Some people like to have all the latest stuff. If you can easily afford it, and it’s common, there’s no big deal here. You expect your spouse to get the latest iPhone and dress buy new clothes. But, what if you don’t have the budget for it? It’s not necessarily a sign of trouble. For example, many phone companies will upgrade for free or offer a free tablet. If you’re concerned, take the time to check.
5) Hides their Statements
Have you seen the credit card statement in a while? What about the bank statement for the month? Are you keeping track of the money? A sign someone is doing something wrong is they hide what they do. If you’re not allowed to look at the statements, it can cost you in the long run. This is especially true if you’re getting married and/or thinking about buying a home together.
