1. Debt/Big Purchases
If you’re simply dating, this may not apply to you. But if you are discussing marriage or ARE married, debt and major purchases should never be hidden from your significant other. People have a right to know what they’re marrying into, and if you are already hitched, then hiding debt from your spouse could land you in the poor house…and divorce court. It’s called “financial infidelity,” and struggling to hide credit card debt, investment losses or sneaking shopping bags into the house is a sign of guilt.
If you are a team, you should be able to be honest about your spending habits so that you and your partner can work through any potential financial issues or help one another budget individually or as a family. Even if you don’t agree with your partner’s spending habits, perhaps you can come up with rules that’ll help hold you both accountable – like telling your partner about any purchases that are $100 or more. Whatever you decide – joint accounts, separate accounts, or both – you need to support one another to help you get through any money troubles that will inevitably arise in any relationship. Be courageous, face your finances head on and tell your partner about any debt you have and it will make your relationship stronger.