Editor’s Note: Ever lied to a lover? Even a little white lie? Dr. Bonnie Eaker Weil defines financial infidelity in today’s guest post.
Here’s a statistic that may surprise you, especially given today’s economic climate: in 25% of households, women are earning more than their male counter-parts. This could also be especially due to today’s economy given that the men in these households may be out of work while their wives and partners remain employed. According to a New York Times study done early in the recession, as companies from Citibank to GM announced massive layoffs, 82 percent of the people getting laid off have been men. It won’t be long before women become the majority of the American workforce. And the pendulum is swinging again, re-writing gender roles and our relationship to money.
Typically, as men have been the breadwinners, they find themselves more defined by money and their earning power. But as the statistics above show, we need to change the way we look at male-female power dynamics. We need a new way to navigate the shift in power due to male-female role reversal and the resulting power dynamic that now faces both couples and singles.
Finances have long been at the root of much relational difficulty, and with this shift, it’s becoming even more important to identify your money patterns and define what areas of your relationship tend toward Financial Infidelity. This is a form of cheating that’s often so subtle, people don’t know they’re engaging in it, yet it can be just as devastating as a physical affair.
What to do when confronted by financial infidelity? Dr. Bonnie provides a primer straight out of her book in tomorrow’s exciting conclusion!
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