Keeping a secret credit card or bank account still counts as cheating, only under a different form. While this might not affect your relationship as much as a romantic affair, you’re still lying to your partner, which cannot be a good sign for any relationship. “Financial secrets take an added toll due to the effect they have on a sense of both physical and emotional security,” explains clinical psychologist and author Dr. Carla Marie Manly.
Using separate accounts
For some long-term couples, sticking to separate accounts is the best way to avoid unwanted financial frictions. However, according to various marriage and family experts, this separation of accounts can lead to more problems down the road. After all, you should be a team, not every man for himself. One way to solve this issue is to set up a joint account and use it to pay the bills and other common necessities. The remaining amount can then be divided between the two of you.
Lending money to family irresponsibly
Money is a tricky matter for a lot of people, and loaning to friends and family is something most financial experts advise against. In fact, according to a Lending Tree study, those who provide financial help to their relatives get back around 57 percent of the loaned amount. For this very reason, if someone from your family, even your adult child, asks you for a loan, discuss this matter with your partner.
“Not doing this can create resentment, can present the opportunity to keep secrets about loans or monetary gifts to relatives, and can violate an otherwise healthy, comprehensive trust that the couple have built,” says Byron Tully.