The term is “financial infidelity,” and it can cause big trouble for married couples. One survey suggests 12 million Americans have a bank account or credit card their spouse doesn't know about.
Houston Certified Financial Planner Rich Rosso says this is something couples have to talk about -- even if one handles all the finances.
“Don't get them electronically,” Rosso says. “Get your statements sent to you by mail. I know it's a pain in the neck, but you will spend more time paying attention to them. Run each other's credit report every year and show it to each other.”
Financial infidelity can cause problems for a relationship.
“They have to practice financial nudity,” he says. “Once you breach the trust, especially if it's a big purchase, it creates a real issue.”