Have you seen signs of financial infidelity?

Creating contingency plans with couples can prove to be a test of their financial honesty and transparency in the relationship. Financial infidelity shows up in secret bank accounts, debts, and purchases.

According to a recent article in Reuters, Gen Z (63%) and Millenials (54%) are much more likely than Gen X or Boomers to keep financial secrets. And they don’t necessarily consider it as keeping secrets.

The earliest lesson I received in financial infidelity was from my great-grandparents.

My great-grandmother lived next door to me, growing up in West Philly. Her husband had died before she moved next door. Anytime her husband was mentioned, Flossy, my great-grandmother, became furious.

After Flossy’s husband passed, the local Savings & Loan branch alerted her that he had a savings account in his name only. This was a secret saving account for his retirement spending money because Flossy kept a tight reign on the household purse strings.

Both people may have excellent reasons for their point of view. The challenge arises when lines of communication break down. 
Nowadays, couples can work with a Financial Therapist to work through challenges and work towards getting on the same page.

What’s one technique you use to keep open lines of financial communication in your relationships?

Mary Beth Simón

Mary Beth Simón

Contingency Plan Guide | Strategic Planner | Keynote Speaker & Workshop Facilitator

The best time to plan for an emergency is when life is good, not when an emergency happens. Unexpected life events require all your energy and attention. Having a plan ready before it's needed relieves stress and allows you to face challenges with calm, presence, and confidence.

As the founder of NPC, Mary Beth works with her clients to create a roadmap that their business partner, team, or loved one can follow to keep business and life running smoothly in an emergency.

There's no better time than now to start creating your plan. Book a Free Consult Today or download my free Contingency Planning Kit.