When Your Lover Lies: Overcoming Financial Infidelity

About 30% of people have experienced financial infidelity: things like:

• Keeping purchases secret: 31.4%.
• Hiding debts or accounts: 28.7%.
• Lying about income: 22.6%.
• Draining money from savings: 10.4%.
• Lending money without consent: 6.9%.

All bad stuff, right? Even worse, financial infidelity can be a sign of other relationship issues.

So, how do you avoid this stuff…or if you're already doing it, how do you stop?

Let's find out.

In this week's podcast, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week's guest is Tarra Jackson, Madam Money. She will help us learn how to set better money goals with our partners so we can stop that financial cheating.

Be aware that anything you hear on this podcast doesn't constitute financial advice. Always do your own research and consult your own experts before acting on anything you learn here.

OK, let's dive in.

Episode 182 webpage.

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This podcast is sponsored by Tellus, the first savings app designed for home buyers by real estate experts. With Tellus your savings earn more in one day than up to three weeks in a traditional bank savings account. What's more, there is no stock or crypto exposure, no fees, and you can withdraw anytime. Click the link in the show notes and use the code MONEYTALK to get a 5.50% APY for 7 Days with a $125 minimum deposit.

What is financial infidelity?

We talk about financial infidelity and the signs you should watch out for. Our guest, Tarra Jackson, wrote a book Financial Fornication, that tackles this issue.

It's important to note that we're talking about common issues that can crop in a non-abusive romantic or partnership relationship. If you're experiencing abuse, including financial abuse, we encourage you to call the National Domestic Violence Hotline at 800-799-7233.

We have some great resources that can help you as you work on your relationship with your partner—and your money.

• 10 Best Cities for Budget-Friendly Dating
• Money Fibs Put Millions of American Relationships at Risk
• 7 Social Security Spousal Benefit Rules Every Married Couple Should Know
• This Is the No. 1 Money Worry of Couples of All Ages
• Study: Debt Takes a Toll on Couples' Relationships
• 12 Steps to Protect Your Finances When Leaving an Abusive Relationship
• Money Can't Buy Love, but Sharing It Strengthens Relationships
• 4 Tips to Keep Smartphones From Ruining Your Relationships
• 7 Money Mistakes That Can Doom Your Relationship

Managing money with your partner

We also tackle how to stop engaging in financial infidelity, as well as what you can do to become better partners with your money. Tarra's book, 4 Financial Languages, can help you learn how to communicate with your partner about money. We also have a number of great resources that can help you manage your money better as a couple.

• 4 Money Conversations to Have With Your Partner When You Budget
• The 5 Best Budgeting Apps to Get Your Finances Together
• Talking About Money With Your Honey: How to Do It Painlessly
• How to Maximize Social Security Benefits for a Married Couple
• 5 Ways Couples Can Maximize Credit Card Rewards
• 8 Key Steps to Planning for Retirement as a Couple
• What Is a Joint Bank Account and How Does It Work?
• 10 Financial Moves That Keep You Sane During a Divorce
• 20 Myths About Divorce and Money

Meet this week's guest, Tarra Jackson

Tarra Jackson, known as Madam Money®, is the best-selling author of the three cult favorite books "Financial Fornication," "4 Financial Languages: The Secrets to Communicating about Money," and "The DUALpreneur Bible: 10 Commandments to Starting a Successful Side Business." Tarra is a personal finance expert and animated International Speaker.

Tarra is the founder of DUALpreneur®, an organization that provides support services, resources, and events for people with side gigs, like the International Hybrid conference called #SIDEGIGCON. This conference connects attendees with successful business owners and experts, as well as like-minded entrepreneurs to help them turn their side gigs into profitable businesses.

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

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