web analytics
October 31, 2014 / 7 Heshvan, 5775
At a Glance
Blogs
Sponsored Post
Meir Panim with Soldiers 5774 Roundup: Year of Relief and Service for Israel’s Needy

Meir Panim implements programs that serve Israel’s neediest populations with respect and dignity. Meir Panim also coordinated care packages for families in the South during the Gaza War.



Hiding Money From Your Spouse

Approximately 20 percent of British citizens have debts that they have not disclosed to their partners.
Goldstein 485x300

Do you have any secret funds or debts that your spouse doesn’t know about? I’m referring here to a hidden bank account or an unknown credit card or debt that you have never told anyone about.

If you do, then you are definitely not alone, as a recent Prudential Insurance company survey showed. When the British newspaper The Telegraph published the results of the survey at the end of November, it revealed that around 20 percent of British citizens have debts that they have not disclosed to their partners. Additionally, a slightly smaller number of people admitted that they had hidden investments and savings that were totally unknown to their spouses.

Those asked gave several reasons for concealing their debts. Many times, the underlying cause was a combination of bad monetary habits and embarrassment – over borrowing money to cover everyday living costs, or needing to pay off debts that shouldn’t have arisen. Some said their overspending had been caused by emotional distress, leading to financial problems. In many cases (22 percent), the reason for hiding savings was the fear of a breakup and making sure that there would be some money if this would occur. Eight percent even said that they hide these funds because they simply don’t trust the way their spouse handles money.

As a financial adviser, I often work with couples who argue with each other about money or who don’t trust each other when it comes to financial matters. Indeed, I noticed that attitudes to money are a huge cause of domestic disharmony. The statistics above definitely bear this out; they certainly don’t provide a very positive view of money or relationships.

The best way to combat these difficulties is to meet them head-on and prevent them from happening right from the beginning. If you have a son or daughter who is about to get married, sit down with the young couple and discuss financial habits, such as budgeting and saving. At the same time, emphasize openness and good communication in marriage. Trust and honesty are not only good values with regard to money, but also for marriage in general.

I recently discussed these issues with Sherrie Miller, co-founder of Choice of the Heart, an organization that prepares couples for marriage. And even if you have been married for twenty-five years, it certainly does no harm to review your financial habits with your spouse and to listen to some good and useful advice. Watch the video of my interview with Sherrie to learn more about financial fidelity and other tips for creating (and improving) a strong marriage.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Hiding Money From Your Spouse”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Yehudah Glick on the Temple Mount.
Yehuda Glick’s Condition Stabilizing, “He Was Very Lucky” (1:00 PM)
Latest Blogs Stories
Jo-map

Let’s cut to the chase! The people who call themselves Palestinians are simply Arabs (Muslims) who came to this area from several Islamic regimes. This is not my opinion but rather what their leaders clearly say.

YG

Please pray for a complete recovery, רפואה שלימה for Yehuda Yehoshua Ben Rivka Ita Breindel Glick.

12

Obama/Kerry hate Bibi, because he is what they aren’t: smart and was a real soldier in the top unit.

Adolf Hitler and the representative of the Palestinian Arabs, the Mufti of Jerusalem, Amin al-Husseini, December, 1941.

Palestinian anti-Semitism in 2014 is more extreme and mainstream than German A/S in the 1930s.

Here are 5 quick facts that prove Jerusalem was NEVER A Muslim Holy City.

For further proof that there’s no justice for Jews in this world, the United Nations Security sic Council is planning to meet about Israel’s building plans. (Reuters) – The U.N. Security Council will hold an emergency meeting this week on recent tensions between Israel and the Palestinians in East Jerusalem due to Israel’s plans to build more […]

When is it a good idea to accept a “draw” and when is it better not to do so?

The AlephBet soup of American Jewish organizations must demand an apology and retraction from the Obama Administration to the Jewish People for this crass and vulgar insult to the leader of the Jewish People.

How bad is it? It is a battle royal tearing at the very heart of the yeshiva world.

Zionism brought Yesha to life, attracting Jews and Arabs to the area.

The “bag tax” is eco-terrorism against the Israeli consumer. Have our MK’s reviewed any studies on its environmental impact, or is it all just touchy-feely?

MS. PSAKI: He asked me if we thought he (molotov-cocktail throwing Arab-US citizen was a terrorist, and I said no.

Abbas’s charge of racism spans the entirety of Israeli society.

Why do people often sabotage their own success ?

The best locations for more housing is Yesha and Jerusalem because of convenience and low land cost

Weeping for the heroism of our soldiers, the miracle of our return home, the endless years of exile

More Articles from Doug Goldstein, CFP®
Doug Goldstein

When is it a good idea to accept a “draw” and when is it better not to do so?

Doug Goldstein

Why do people often sabotage their own success ?

Has the Jewish world adapted to the times? Hear the answer with Doug and his guest, Rabbi Berel Wein.

How do changes in technology affect the human life and our interactions with each other?

Discover the connection between hypnotism and investing on this week’s show.

Discover the motivations and the emotions that may affect investing.

Grandmaster Michael Adams talks about life as a professional chess player.

Why some countries are more economically successful than others? Tune in for the answer…

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/hiding-money-from-your-spouse/2013/01/29/

Scan this QR code to visit this page online: