How To Hide Money From Your Spouse For All The Good Reason
Do you already work full-time and earn a fairly equal salary to your spouse? Or have you been a homemaker for the past 15 years without any other source of income other than your spouse’s paycheck? Does your spouse give you free and open access to all of the accounts, or does your spouse avoid financial discussions at all costs? Do you trust your spouse’s spending habits, or have disagreements regarding budgets and money been a sore point in your marriage?
Sometimes those we love make some questionable decisions and we have to decide if we can see it through and help them or if it’s the final straw. If you decide to push through the obstacles present in your relationship, it can still be a good idea to create a safe and discreet place where you can save money from your spouse. Saving your own money like this can help the rest of your family and also mean you can live independently from your spouse’s actions without fear that they will affect you financially. Here are a few methods you could follow:
Take an active role in the finances
Before we get into the nitty-gritty of whether you should start hiding away money, one thing you can do to protect yourself is to take a more active role in your families’ finances. For many families, one spouse is in charge of all the “money-related” tasks, like balancing the chequebook, paying bills, and investing money. If you are the spouse who is not actively involved in the finances, take steps to become more involved.
Be aware of how much your spouse earns (including commissions and bonuses) and if his employment allows him to participate in stock options or other business perks. Being more involved in the finances will ensure that you are not left completely in the dark if you end up having to split assets due to divorce.
Get your personal credit card
Only consider getting a credit card if you can actually support the credit. Having a credit card in your own name, rather than using your spouse, means that you will be gaining your own credit score. So, if there was a separation or divorce, you would have your own credit score separate from your spouse so you could re-establish good financial relationships with banks after your separation.
However, if you don’t want your spouse to hear about this credit card, there are a few things to be aware of. Firstly, you will have to register the credit card at your home address; this is federal law. You can change this afterwards though, just be prepared to grab that letter as it comes through the letterbox.
Rent a safe deposit box
A safe deposit box is available to rent at nearly every major bank, and no one has to know what’s inside. That’s right; not even bankers are allowed to know the contents of the box. Google around about stashing cash in a safe deposit box and you’ll find sites telling you not to do it, even if it’s illegal in your country/ state.
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