Are Your Financial Secrets Hurting Your Relationship?
Valentine's Day is fast approaching, but the majority of Americans are doing something decidedly unromantic, say Chicago bankruptcy attorneys.
At least 30 percent of married people cop to cheating - of the financial kind, that is. In other words, they admit to hiding a major purchase or other financial indiscretion from their partner, according to the Minneapolis Star Tribune. A whopping 90 percent confess they avoid talking about money with their significant other. And thanks to the economy, these financial secrets are increasingly revolving around too much debt.
It usually starts out innocently enough. Maybe you're short on funds one month, but you don't want to alarm your spouse so you put your purchases on the ol' credit card and tell yourself you'll pay it off next month. But what if next month comes and goes and you still don't have the money? Rather than admit your secret, you cover it up, vowing to take care of things next month. And the problem - along with your debt - grows.
But debt isn't just bad for your bottom line - it's bad for your relationship. In fact, financial disagreements are one of the top causes of divorce. Whatever the reason for your financial secrets - whether you lost your job, ran into a financial emergency or tend to shop compulsively - the sooner you come clean with your partner, the better.
Sure, admitting your failures is painful. But it's better that your family finds out from you now than from the bank later, when they're foreclosing on your home. Besides, two heads are better than one. Why struggle with your finances alone when you can get help? Speaking of help, if you and your better half still can't get a handle on your money situation together, a professional bankruptcy attorney may be able to steer you in the right direction. Find out if bankruptcy is the solution for eliminating debt and strengthening your finances - and your relationship - when you sign up for a free personal debt analysis with a Chicago bankruptcy attorney.