Keeping Debt A Secret Is A Bad Idea As It Affects Relationship

Wednesday, October 24, 2018, 6:00 PM | Leave Comment

Debt is by it a very complex and sensitive matter and keeping your debt a secret is even more sensitive. It will affect your relationship with your spouse in a negative way. If you do not want to have this bitter experience first-hand, then you must read on to know how keeping debt a secret from your loved ones is an incredibly bad idea.

You and your partner may experience complications with your finances but never let the idea to keep your debt a secret creep in. You will surely break the cycle of debt, and it will be easier with your collaborative effort. It will be peaceful, successful and effective.

A secret debt is a horrifying idea as you will be in constant fear of being caught. All the times you will have to make up new stories to cover up the collection calls, and the worst part of telling lies is that you will have to remember what you said earlier. This even enhances the chances of getting caught and a tussle between you two.

On the other hand, if you two work on your debts together, you will find out better and more productive ways to pay off your debts and eventually become debt free as the year progresses. All the time, you will live your normal life, go out and have fun like anyone else, of course within your financial limitations.


  • Take the roads not taken

    Therefore, if you are in debt, there are two things that you should surely do such as:

    1. Let know and talk it out with your spouse and

    2. Continue paying minimum repayments instead of trying to make efforts in vain to get rid of your debt at once.

    Ideally, you should never try to deal with your debt all by yourself in the apprehension of losing your beloved. In most cases people who try it fails and ends up losing their partner as well. Financial quarrels can go up to any extent and often is the primary cause for separation and divorce. This affects not only you and your partner but also your children who are the most deprived one to suffer for no fault of their own.

    In fact, you will have emotional support and find a lot of ways and ideas coming up when you work towards your debt collaboratively. You may even get financial help from other known sources of your partner or also be suggested to consider the debt consolidation reviews to avail one with an assurance that he or she will provide full support and cooperation in bringing down the monthly household expenses.

  • Reasons to keep debt a secret

    There are a hell lot of reasons to keep debt a secret from the other half.

    • Most people think that debt is their own business and do not want to feel embarrassed in front of others. They think debt is a bit of a taboo subject.

    • Moreover, people do not know how to bring up the topic fearing they will not be able to explain the situation that resulted in debt. To avoid this hard situation, they make it even harder in the long run by not saying anything about it at all.

    • Few also fear losing their partner or hurt them by speaking about their financially stressful situation. They tend to think how the other person will feel about them and accept them if things do come out in the open.

    Apart from that, few people think that it is just a matter of time and they will be able to sort out the problem by them alone which is seldom the case. They do not want to share the burden with their partner fearing disappointment and a few harsh words as well.

  • Consequences of secret debt

    Apart from the possibilities of your world falling apart in the long run, there are a lot of other consequences of secret debt.

    The longer you keep your debt a secret, the harder it will be to deal with. However, the truth will certainly come up at a point of time, and that will lead to more frustration, anger, sadness, and confusion.

    It will be harder for your partner to accept the fact that you the person he or she loves so much have kept a secret for so long and this is not good for your relationship.

    Honesty as always is the best policy. If you keep a secret, you actually double the problem which you could have reduced to half by sharing it with your partner.

    Secret debts will take a serious toll on your health and emotions as well. It will be mentally exhausting for you to keep up the feeling that everything is under control. Debt has a strong link with depression and anxiety and will make your time and relation extremely difficult.

  • Tips to detect a secret debt

    So far so good as for you but how will you know whether your partner is keeping their debt as a secret? Well, there are signs that you must watch out for such as:

    • When you find that they are secretive about their expenses, bills and where the money goes

    • When you notice that they are hiding their addiction for credit card and use it secretively

    • When they cannot follow the budget that you two have designed

    • When they are unable to pay their share of bills on time

    • When they have no investments or savings in their name

    • When you know that they have a bad credit score

    • When they borrow a lot of money from a lot of people and even your friends

    • When they want your money or try to control it

    • When they do not want to talk about their money and

    • When money values do not align.

Therefore, keeping your debt as a secret from your spouse is surely a disaster waiting to happen and will impact your personal life. You can limit the damage and save your relationship by telling it all.

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