Exploring The Money Secrets Couple Keep

According to a recent survey from Harris Interactive, almost one in three people have deceived their partners about money. And more than one in four say their partners have withheld financial information from them. Sascha de Gersdorff from Women's Health says its time to come clean about your money secrets.

Why Women Stash Cash
• Men and women have been lying to each other about money since biblical times, but the modern age has made it a lot easier to keep secrets from someone you share a bed with.
• Now that credit-card bills and bank statements can be accessed online, it's possible to have a financial life that's virtually unseen by your significant other.
• And the floundering economy has given women more of an incentive to spend on the sly.
• When things are going well-your salary, home value, and portfolios are all rising-you can afford splurges. But when money is tight, it can be hard to justify.
• During tough economic times, every little thing becomes fodder for a money fight, so people tend to keep secrets to keep the peace.

Putting Your (Credit) Cards on the Table
• Maybe you can relate to a small sleight of hand when spending or understand withholding information to protect your family's financial future. Regardless, both deceptions have the same corrosive consequences.
• If you're currently tangled up in a web of money lies, you need to fess up now. You'll be much better off in the long run, financially and emotionally. Be direct and contrite, and understand that your partner will feel betrayed.
• Experts agree that the best way to avoid financial fooling around is to be open about money from the get-go.
• Here are a few tips Women's Health came up with for putting it all out there:

Be Upfront About Your Financial Independence
• Establish that you are going to have your own financial life at the beginning of a relationship. Keep separate accounts, and have your own retirement savings and investments in addition to a joint portfolio.
• Women tend to fare worse financially than men in a divorce or breakup, so it's important for us to have our own money. Just be honest about the fact that you're putting away cash, but be sure it doesn't affect your joint-account responsibilities.

Set Ground Rules
• Ground rules will help maintain financial order. Set a spending limit such as, no one is allowed to spend over $100 from the joint account unless they consult with the other person.
• You could also establish a weekly "me time" allowance - an amount of money you're each free to blow on whatever you want, no questions asked.

Get Everything In Writing
• It's best to get these rules on paper. This is the best way to avoid public fights, resentment and seething. You will both be very clear on the rules and less likely to break them.

To learn more, take a look at the current issue of Women's Health or go to www.womenshealthmag.com.