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Hiding credit card purchases can damage a relationship

Texas residents who run up credit card expenditures without telling their spouses may not just be putting their credit ratings at risk. According to a survey done by a British price comparison website, hiding purchases from someone's partner can be damaging to a marriage. The survey of 1,000 men and women revealed that 10 percent of the respondents said that hiding credit card purchases contributed to their divorce or separation.

The most common reasons people hid their purchases were that they believed their spouses would not approve of the purchase or would be angry. While half of purchases were for things like clothing and jewelry, 50 percent were to pay for rent, food and utilities. Another interesting discovery was that in spite of the fact that men spend more money on hidden purchases, women were 60 percent more likely to secretly spend money and feel guilty about it.

This survey is only one of several recent studies that shows the damage that financial disagreements can have on marriages. In 2011, the National Endowment for Financial Education determined that 68 percent of the time, lying about finances had a negative impact on a marriage. Another study by Kansas State University showed that arguing about money is the leading indicator of divorce.

If a couple decides to divorce because they cannot see eye to eye on finances, their divorce is likely to be contentious.. A lawyer with experience in family law matters may be able to help someone understand how state law handles these issues. The lawyer may also be able to negotiate and prepare agreements relating to property division and spousal support that take into account such conduct.

Source: Huffington Post, "Secret Credit Card Spending And Divorce Linked In New Survey", October 14, 2013

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Bruce Turner

In addition to his law degree, Bruce Turner has a master's degree in tax law and is Board Certified in Commercial Real Estate Law by the Texas Board of Legal Specialization.

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Turner, Bruce E.
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Bruce Turner with Bennett, Weston LaJone & Turner, P.C.

Attorney Bruce Turner is located in Dallas and represents people and businesses throughout DFW and the Metroplex, including Denton, Carrollton, Lewisville, Flower Mound, Farmers Branch, Irving, Las Colinas, Corinth, Highland Village, The Colony, Plano, Frisco, Allen, McKinney, Mesquite, Grand Prairie, Garland and Grapevine as well as Collin County, Denton County and Dallas County in Texas.

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