One may think that their significant partner or children are being faithful but that might not be the case. Perhaps no one is sneaking out a window to fool around with a romantic interest but they could be stepping out by being financially untrue. According to the National Endowment for Financial Education (NEFE) a survey has shown that couples have experienced serious relationship problems caused by financial infidelity.
Hiding purchases, bank accounts and cash have hurt many relationships.
According to a January 2014 Harris Poll survey on behalf of NEFE "The survey finds that three in 10 adults who have combined finances have hidden either a purchase, bank account, statement, bill, or cash from their partner or spouse. And 13 percent said they have committed more severe deceptions, like lying about the amount of debt that they owe or even the amount of income that they earn."
Couples need to work together on their financial fidelity just as they work on romance.
- People in a serious relationship need to be truthful with each other about all financial situations without fear of being judged.
- It is very important to express your money infidelities to a partner in order to rectify the situation and move on with the relationship.
Patricia Seaman, senior director with NEFE, stresses the importance of rebuilding trust by getting on the same page. Seaman suggests that people be truthful by stating the following, “I’ve done some spending you don’t know about and I want to make sure we get on the same page and create goals today that we can stick to.”
It is very important for children to learn the importance of financial fidelity as well.
Young children often hide purchases they know they will get in trouble for or are even told to hide gifts given by competing parents. Older children and young adults heading into college or the real world are often tossed into life not understanding the importance of how to allocate funds for needed living expenses and can easily get themselves into a financial trap with first credit cards.
Smart About Money comes to the rescue to help people of all ages to get on the right financial track.
NEFE is a nonprofit national foundation "Dedicated to inspiring empowered financial decision making for individuals and families through every stage of life." Creating smartaboutmoney.org is NEFE's gift to help people in all situations and periods in life learn how to be fiscally faithful.
The non-profit Smart About Money site is a free program filled with knowledgeable articles, resources, calculators and tips that will help all to manage their money and financial issues in all types of circumstances.
At smartaboutmoney.org one can find important tools to learn about handling finances.
For both individuals and families, the site is focused on "Inspiring empowered financial decision making". The site aims to help people understand their financial responsibilities. With special tools and helpful steps young adults can easily learn how to properly manage their money, saving themselves from a future of financial infidelity.
- Understand the four LifeValues that drive one in their life actions.
- The LifeValues Quiz is a good place to begin by aiding one in understanding what compels their financial choices.
- Learn the Ten Basic steps to assist in starting to be smart about money.
- Calculators are available for daily decision making, crisis and emergency financial decisions, debt management, life transitions and one's work and money.
- Find help on all financial matters from saving for a child's education to paying off credit debt, controlling spending, baby costs and income tax to many more money issue topics.
- Create a free account to join a forum where questions are asked and answered by others dealing with the same money type issues.
- The resource library allows one to search by topic, keyword or source.
Have fun reading hot topics and thoughtful articles as you learn how to become more financially responsible. Gather the tools needed to teach the younger ones how to manage future finances and save their own money. Take pleasure in a life free of financial infidelity leaving it open to enjoy love, living and happiness. Never be afraid to dance!
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