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Understanding financial infidelity and how it leads to divorce

On Behalf of | Jun 13, 2023 | Divorce

Being on the same page when it comes to financial matters can be an important part of a healthy marriage. But when New Jersey couples struggle with finances, divorce often happens. Money problems may include disagreements on spending amounts for large purchases or paying off debt. A more serious matter, financial infidelity, involves one or both parties not being completely honest when it comes to money.  

What is financial infidelity?  

In marriage, it’s usually a good idea for a couple to have ongoing conversations about financial matters. When one party hides money, the other party will lose trust in the partner. Financial infidelity may involve secret accounts or debt that a spouse isn’t aware of. Sometimes, this can lead to financial hardship that affects the entire family.  

Financial infidelity can cause trust issues in the marriage and make the other party question everything about the relationship. One sign to look for when one suspects their spouse of hiding financial information is excessive spending on nonessential purchases like vacations or gambling. One may notice large withdrawals from a joint account. Those who are engaging in financial infidelity often get defensive when speaking of finances and may refuse to answer basic questions about where the money is going.  

Legal advice for those dealing with financial infidelity 

Money matters can cause a lot of strain in a marriage. When one party feels like the other party can’t be trusted when it comes to finances, divorce is common. New Jersey residents who are considering divorce for any reason can learn more about the next legal steps by speaking with an experienced family law attorney.