October 23, 2018 | 11:06 AM

Your Money

11.09.2008Are you guilty of financial infidelity?

If you have cash stashed away in a secret savings account you may be a "financial adulterer"

By Jill Fraser

If you have cash stashed away in a secret savings account and your spouse is none the wiser you’re one of a growing number of ‘financial adulterers’.

There’s a whole raft of reasons why someone would opt to hide their rainy day fund from their spouse. But the majority of psychologists and financial counsellors agree that most are deceit related and that if caught out an undisclosed nest egg has the potential to seriously undermine a relationship.

While some motives for having a little savings account on the side may seem practical, even wise – your spouse isn’t good with money, it serves as a safety net should your partner walk out - the consensus among experts is that ultimately it boils down to cheating.

A US survey showed that women are twice as likely as men to possess a secret stash of money (generally under $1000) because many women are concerned about financial security.

Wives have been hiding money from their husbands since time immemorial. In fact the idea of growing a separate little stash is often based on grandmotherly advice.

But although secret accounts can provide a sense of financial independence the bottom line is that it’s usually symptomatic of a deeper crack in the relationship that needs to be addressed.

Do you have a stash of money hidden away? If so, what led you to start hoarding? How do you get away with it? Do you feel guilty? Do you think it indicates a deeper issue in the relationship such as a lack of trust or do you view it simply as a security blanket?

Are you guilty of financial infidelity? Click here to discuss this on FatCat's MoneyConfessions 

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