May 30, 2011: Financial infidelity is oftentimes a deal breaker. The Huffington Post wonders just how much financial infidelity has taken place between Arnold Schwarzenegger and Maria Shriver in Financial Infidelity and the Governator. In The Providence Journal yesterday one of the Fox News “Money Pros” Rob Auclair underscored the need for financial honesty in marriage. Additionally, the National Endowment for Financial Education (NEFE) recently noted that two out of three couples with shared finances admit to dishonesty. In the case of Arnold Schwarzenegger and Maria Shriver, the stakes are high. A recent survey for Lawyers.com found that financial infidelity is considered worse than sexual infidelity.
As the Huff Post noted with regard to Arnold and Maria:
"The public will likely never know all of the sordid details, as Maria's family law attorney Laura Wasser is best known for keeping her celebrity divorce negotiations discreet. However it is very likely that financial infidelity will be the battle cry. If Maria didn't before, she will now receive a full accounting of every dime Arnold has spent during their 25 years of marriage, so that the attorneys can haggle over what Maria is rightfully owed."
For most couples it doesn’t have to be a deep, dark secret
It seemed ironic that as June weddings approached, the May news was all about financial honesty. The situation is serious. NEFE surveyed 2,019 adults ages 18 and older found that one in three with combined finances has been financially deceptive. Two out of three say that financial dishonesty affected their relationship and for some even led to divorce.
Auclair, a principal at the Randal Financial Group, LLC, shares ideas about financial fitness on “The Money Pros,” which airs Sunday mornings on Fox Providence with segments available on the website.
He tells me that one of the biggest issues is hiding purchases from spouses. But he believes that it is really about “hiding some underlying issue” that two people have not shared.
“The hiding is just a sign of a specific marital problem. You need to have open communication with each other, and hiding purchases is unhealthy,” he says.
We will see in the ensuing saga between Maria and Arnold just how unhealthy this can be.
For his tips on how to achieve financial honesty, please go to:Rita Watson: June brides should be wary of the money trap
To view past segments of the show: CLICK HERE to visit the show website at www.FoxProvidence.com
For a catalogue of articles, please go to www.ritawatson.com
Copyright 2011 Rita Watson/ All Rights Reserved
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