Money Advice

For couples today, a cheating spouse can mean more than the betrayal of a physical affair. While it may not be the first type of infidelity one thinks of, there is a new form of unfaithfulness that many couples are feeling the pain of: financial infidelity. From hidden debt to secret expenditures, lying about finances can cause a marriage to go into default.

Fortunately, there are certain indicators that can help a spouse detect the onset of financial infidelity and take action to fix any financial issues they may be facing. If a spouse’s behavior with money begins to shift and become out of character, it is vital to confront them and manage the problems before they snowball out of control.

While adultery is a factor in many divorces, it is frequently not the primary cause. So why are divorcing spouses so quick to blame the divorce on the other spouse's affair? The quick answer is that it feels better to think of oneself as the victim of someone else's wrongdoing than to accept even partial blame. No one likes to admit being wrong, and facing the deeper problems in a marriage with self-awareness can be very painful.

Now more than ever, people are coming to my couple’s mediation office to help them save their financially wounded marriages. They aren’t asking me for a job, rather they want me to help them stop fighting about their lack of money, job loss and who is to blame for the absence of love and respect in their relationship. As a consequence of today’s recession, many cash-strapped couples are experiencing a marital meltdown. Even happy couples admit that the sudden economic downturn is testing their "I do" commitment.

Nearly 8 in 10 (78%) of U.S. adults lose sleep over daily stresses like work, relationships, and more, according to a new report. More than half (56%) of Americans, ages 18 and older, toss and turn over at least one money issue. The biggest money stressor: everyday expenses, which nearly 1 in 3 (32%) say they occasionally lose sleep over.

Other than everyday expenses, the most popular financial insomnia contributors include saving enough money for retirement (24%), health care or insurance bills (22%), the ability to pay credit card debt (18%), mortgage or rent payments (18%), educational expenses (11%) and stock market volatility (5%). Those who are losing sleep over money include:

Are two heads better than one? Despite the common belief that married couples are more financially knowledgeable than the average single person when it comes to insurance, the MetLife Auto & Home Insurance Literacy survey, conducted by Zogby International, reveals this might not be the case after all.

In fact, when asked specific questions about home insurance, on average, married couples only scored just a few points better than their single counterparts, which is not statistically significant. In fact, some of the questions asked in the survey revealed that married couples are just as in need of a brush up on home insurance basics

You or your spouse’s parents are more vulnerable to identity theft because they are more trusting and less aware of the increasing variety of scams. Although they may have no interests in the complexities of smartphones, computers, the internet and online banking, the many whom give it a try leave themselves defenseless against thieves.

The elderly—particularly those who need your assistance in living—can be easily targeted online or through the mail in old-fashioned schemes to steal their identity and ultimately their money.