Do you trust your spouse?
I'm not talking about marital fidelity - such as your spouse having a lover - rather I'm talking about financial trust.
Carrie Schwab wrote an article as part of a Schwab newsletter discussing when couples lose financial trust - it ignited my curiosity.
I remember catching a Dr. Phil episode in a dentist's waiting room where a woman was addicted to buying children's clothes and in the process blew out her limits on credit cards. She would hide the charges and even the clothing - all would be peaceful until her husband tried to use a credit card and learned that it had reached it's limit. This apparently happened repeatedly. They certainly did not have financial trust in their marriage.
Do you have financial trust in your marriage?
Are your accounts shared / joint or separate?
Is there such a thing as too much trust?
In my marriage everything is shared and joint. We have a high degree of financial trust. My wife has no interest in accounting, so I tally the numbers and share the results with her, occassionally or by need. She in turn is consistent with her spending and we discuss any large changes in either spending or income. More or less things balance out with a high degree of trust.
Our biggest challenge is not trust, but my wife's disinterest in finances in general. We exercise only 50% of our intellectual ability on solving financial problems.
Do any of you have a dissinterested spouse?
How does it affect your finances and decisions?
Have you discovered a way to pragmatically involve your spouse?
I'd love to hear your thoughts on this issue.