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It’s all very well to keep your personal finances to yourself when you are single. But what happens if you continue this habit when you are married?
Financial infidelity can have a devastating effect on a marriage and create huge trust issues between couples if one of them is not honest about money.
From hiding purchases to having a secret bank and credit card account or taking out a loan without their spouse knowing about it are just a few examples of financial infidelity.
In 2020, a survey by creditcard.com found that financial infidelity in marriages is on the rise, with 44 per cent of US respondents admitting they kept money secrets from their spouses.
Did your upbringing influence your money outlook?
I have a younger sister and we grew up in a very comfortable house. My father comes with a different philosophy on spoiling children. He pretty much gave me whatever I wanted, but there was always an incentive. I had a Mont Blanc pen in grade 12 for doing well in school. He would reward me.
Dad has been in Dubai for 48 years, was a mechanical engineer and made the decision to go into financial services. He started Zurich Life in Dubai in 1983. He was their director until 1996 and opened our family office in 1999. That’s when I started to get involved.