I received this email over the weekend and was actually quite surprised by the circumstances. While I believe it is the opposite of what usually occurs 90% of the time, it’s a valid question no matter who is hiding money from the other. What advice, if any, would you pass along to this reader?
I found out due to a sloppy mistake by my wife’s secretary that she has a hidden securities account with quite a bit of money and it that I was not aware of. We have never discussed it and since I’m in charge of the everyday purchases, I believed we were on a tight budget where every cent counted. The account is in her name only and is worth six figures. I’m wondering how I should approach her to let her know that I know about the account and if there are any other steps that I should pay.
I may need to explain that we are not what most people would consider a “typical family.” My wife works full time and I stay at home with the kids so we are the opposite of what you would probably imagine. It concerns me a great deal that she is hiding money from me and keeping the account in her name only.
We have two beautiful kids and although we do have the normal marital squabbles, we have never discussed divorce. I’m wondering why she would have such an account and what reason she would have to never tell me about it.
What are the financial steps that I should take and is there a certain way that I should approach this entire incident?
A few articles I came across that are worth a look:
Simple Pleasures Include Financial Security: One of the great results of keeping life simple is financial security. The sooner that you can learn this (and that simple living doesn’t mean depriving yourself) you will find your finances in much better condition.
Time Banks: How about a different type of currency – as in time? The Time Bank and Time Dollars is a system where you exchange services with other members. it goes a step beyond charity or volunteering; you both give and you get. For every hour you spend helping others, you accrue one Time Dollar that can be spent receiving a service from someone else.
The Truth About the Pay Gap: A look at some of the causes of inequality of pay between men and women other than discrimination.
And for those who need some more reading: