Money Secrets and Marriage

Recently, I was interviewed by a writer for US News and World Report. He was doing an article about the effects of money secrets in a marriage. He wanted my unique perspective as a licensed Marriage & Family Therapist and CPA. Here is an except from the article. To read the full article follow the link at the end. Paula Levy, a marriage and family therapist and a certified public accountant in Westport, Conn., says financial and marital infidelity sometimes go hand-in-hand. “They often have the same causes: lack of trust, lack of communication, the inability to understand each other, or they’re just not willing to work to understand each other,” she says. If one spouse is entirely in charge of the family finances, he or she is in a position to limit how much money the other person can access. In that case, the spouse who has little or no say in how the money is spent may lash out and engage in what experts call “revenge spending,” in which they superfluously spend money to get back at their spouse. “No one likes to feel like they’re being manipulated,” Levy says. She says revenge spending can also be triggered when someone learns their spouse has been keeping money secrets and they want to retaliate by using a large chunk of discretionary spending as they see fit.

US News: What Happens When Money Secrets and Marriage Collide?

About Paula Levy
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