A common financial secret is making a purchase and lying about it, according to Kristy Archuleta, associate professor of financial planning at the University of Georgia.
Maybe it’s paying full price but saying you bought something on sale, or claiming a new purchase is something you already own. “Hiding income, large credit card debt and having a secret bank account are bigger common financial secrets,” Archuleta said.
These are all forms of financial infidelity, according to a paper in the Journal of Financial Therapy.
Just like slamming a closet door shut on clutter, Priebe says people can be just as tactical in steering others away from their financial realities. “Common strategies include not talking with partners or spouses [and] not seeking help from a financial advisor,” she said.
Priebe recommends making a list of financial things on your mind.
“Rank it from what you are most likely to talk about with a friend, partner or professional to what you are least likely to discuss,” she said. “What are the most anxiety-provoking things on that list?
“Then, reverse the order,” Priebe added. “That is almost certainly the one that needs the most urgent attention.”
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