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Are You Hiding Money From Your Spouse?

From time to time, I get feedback from Couple Money readers. It’s something that I enjoy and try to respond to. This weekend I received an email from M about a situation that he noticed at work. I thought it was an excellent question and I wanted to see what youthoughtabout it.

Hiding Vacation Bonus Money at Work

Here’s what M shared with me:

“At work today, I thought of your blog when we received our vacation paychecks which is what my company pays us for any unused vacation time. Normally, the policy is that you use the vacation time or lose it, but this year, management wanted to reach a certain number of earned work hours and decided to pay workers for unused vacation time, thus providing an incentive working towards the earned hours goal versus taking vacation time.

So when we received our vacation checks today, some of my co-workers were like kids in the candy shop because this is money that their wives won’t know about. Wives don’t exactly know how much vacation time their husband has used or accrued during the year. So when the vacation paycheck were received in hand, some of my co-workers were thinking about electronic gadgets to buy or planning to go out and have a good time.

Since your blog deals with building financial freedom together, Do you think this is alright when my co-workers splurges a bit with money that their significant other won’t know about? Or do you think my co-workers should tell their significant others about their vacation checks and put it towards their financial goals?”

My Two Cents on Money and Couples

Here’s my take on the situation based on what was shared -

For us we share bonuses and gifts – we view our marriage as a team effort and when one wins, so does the other. I’m not a fan of hiding things from your spouse. It could lead to big problems later over something that wasn’t that big to begin with. I’m curious as to why his coworkers are thinking of hiding the money. Do you think that it’s their money? Do they feel that their spouses are going tofrivolouslyspend it all? I think looking at their motivations would be real helpful.

Husbands/wives should have a little fun money, especially if they’ve worked hard at their job. I just don’t think it should be an either/or scenario. Talk it over with your spouse and come up with a plan to do both – meet a financial goal and have fun with the rest.

Thoughts on Sharing or Hiding Small Windfalls

I’d love to get your take on the situation – what would you do and why? Would you hide money from your spouse? Why would you hide the money? I know every couple is different, so I’d like to hear yourexplanations.

Photo Credit: Ed Yourdon

Author: This article was contributed by Elle from Couple Money where she writes about building financial freedom together by living on one income and acheiveing your dreams with the second.

Source: Ask the Readers: Hiding Money from Your Spouse

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  • http://pulse.yahoo.com/_X6TMQSBFEKICKBYLK74D5XDOR4 Nasir

    Men usually hide money and women her age; a well famous quote! Anyway, hiding money from spouse is a more psychological behavior and in most cases it benefit both… I think it’s a great question to Pole, start one and you will see great and interesting responses.

    Thanks
    Personal Finance News Views and Reviews for Canadians

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