The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
  • Building Wealth
  • Investing
  • Credit Scores
  • Student Loans
  • Paying for College
  • Saving Money
  • Real Estate
  • Credit Card Debt
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
No Result
View All Result
The Money Coach
No Result
View All Result

How to Stop Secret Spending

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Couples and Money
Reading Time: 3 mins read
financial help for couples - askthemoneycoach.com
9
SHARES
151
VIEWS
Share on FacebookShare on Twitter

Are you guilty of financial infidelity?

Many couples find it difficult to talk about money matters and might even fight about finances regularly. If you share bank and credit card accounts with your significant other, do you review your statements together regularly, or do you end up trying to hide your purchases and spending habits?

Maybe you even have secret accounts or assets about which your spouse or partner has no knowledge.

Sharing financial responsibilities can be challenging, especially if your spouse or significant other has a different “money personality” than you. Still, there are some ways to ensure you’re not committing financial infidelity and are working together towards some healthy financial goals.

Use these tips to improve your finances as a couple, and to open up the communication channel about money matters with ease!

Set Aside Time for Money Talk

Don’t let financial issues become the topic of every conversation throughout the week.

If there is a problem that needs to be solved, or you have something on your mind related to your finances, set up a time to sit down and discuss only the money issues at hand each week.

Establishing a weekly meeting dedicated for this topic can make the rest of the week less stressful, and can also make it easier to solve problems before they escalate.

Address Compulsive Spending Problems

Do you tend to buy on impulse regularly? Or does your significant other indulge in expensive shopping sprees?

If compulsive spending habits are draining your savings account, consider what is driving the urge to shop.

If one of you is unhappy, feeling depressed, or can’t express emotions in a healthy way, it’s time to find better ways to manage emotions and bad moods. Work on this issue together so that one of you doesn’t end up developing an overspending and hoarding habit.

Delegate and Designate Tasks

One of you can be in charge of handling the household bills, while the other person can be in charge of developing a preliminary budget or spending plan.

Separate money management tasks so that your financial philosophy is a joint effort. Working together towards a shared goal can put you both on the same page and make it much easier to manage your finances. This is especially important for couples with a joint account. But even those with separate accounts can benefit from working together to meet goals that will enhance your lives as a couple.

Seek Financial Counseling

If you can’t seem to resolve money issues together, consider bringing in a third party for help.

Making an appointment with a financial counselor or advisor can help to answer many questions you have, and put you on a healthier track with each other and your overall finances together. Attend this meeting together so that you’re both on the same wavelength.

Agree to Disagree

You and your significant other don’t have to agree on everything when it comes to spending and saving money, and you likely will need to make compromises.

If your money personalities seem to clash, work on a solution to which both of you can agree. Don’t make money matters a personal issue. Address the problem directly and acknowledge the fact that you both have different ways of managing money.

Just because you have different points of views about how to handle finances doesn’t mean this issue has to drive a wedge in your marriage or create constant marital friction.

Tags: financial infidelityfinancial issues
Previous Post

New $100 Bill To Soon Go Into Circulation

Next Post

Here’s Why Having Insurance Is More Important Than You Think

Related Articles

mismanaging credit
Couples and Money

Mismanaging Your Credit

by Lynnette Khalfani-Cox, The Money Coach
askthemoneycoach.com
Couples and Money

Splitting Up and Not Married – Whose Money is it Anyway?

by Lynnette Khalfani-Cox, The Money Coach
second marriage
Couples and Money

Getting Your Finances Right in a Second Marriage

by Lynnette Khalfani-Cox, The Money Coach
marriage
Couples and Money

4 Financial Signs You’re Not Ready for Marriage

by Lynnette Khalfani-Cox, The Money Coach
Affordable engagement rings
Couples and Money

Don’t Fall for The Engagement Ring Con

by Lynnette Khalfani-Cox, The Money Coach
Lynnette Khalfani-Cox
Couples and Money

How to Safeguard Your Credit and Finances During a Divorce

by Lynnette Khalfani-Cox, The Money Coach
Lynnette Khalfani-Cox
Couples and Money

Valentine’s Day Finances: 4 Questions for Couples to Ask Before Marriage

by Lynnette Khalfani-Cox, The Money Coach
Dr. David Ireland
Couples and Money

Your Spouse is Not A Fixer-Upper

by Guest Blogger
Coping With Divorce When He Is The Primary Breadwinner
Couples and Money

Coping With Divorce When He Is The Primary Breadwinner

by Lynnette Khalfani-Cox, The Money Coach
Next Post
insurance

Here's Why Having Insurance Is More Important Than You Think

About

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.

Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.

Quick Links

  • Money Coach University
  • Lynnette's Personal Site
  • The Money Coach Corporate Site
  • Video Portfolio
  • Privacy Policy

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2022 TheMoneyCoach.net, LLC. All Rights Reserved.

No Result
View All Result
  • Meet Lynnette
  • Money Coach University™
  • Books
  • Financial Coaching
  • Speaking
  • The Money Coach Recommends™
  • Media Kit
  • Contact

©2009-2021 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist