This week’s guest post comes from Viviana over at The Lean Times. Viviana is an ex-Manhattanite who has been living in London for over ten years. She works in the world of fashion photography, and being a freelancer where the money comes and goes and goes: she knows you must always be prepared for The Lean Times. Her blog shares tips on lush living with thrift, and she has also written an Ebook called Even LEANER Times Ahead (and how to survive them), which is available to buy here.
Financial secrets: to keep or to share?
We all have financial secrets, some small and some a whole lot bigger. They can range from being so frugal that you stay at home to avoid spending, to the opposite extreme of being afraid to answer your mobile, in fear that it is another debt collector.
Most of us fall in between the two extremes, but how much do we disclose to our friends, family and sometimes even our spouses? I know many women that sneak new purchases into the house, tell their spouse that they have had the item for ages and then watch for the postman when the bill is due to arrive. I must say in a different life, I have snuck a pair of shoes into the house when I was given cash for a job and pretended that I had had them for a while.
It is so difficult to get financially naked and tell the person you love that you have made financial mistakes
The financial disclosure conversation is probably one of the most difficult for an engaged couple. It is so difficult to get financially naked and tell the person you love that you have made financial mistakes or that you really have double the student loans or credit card debt that you originally mentioned. The thing is, it is always going to come out to your spouse especially if you are going to buy a property together.
So you are all honest and straight up with you closest loved one but then what happens if your financial messiness gets mentioned to your beloved’s family? Are you immediately thought of as a less worthy mate? Are you thought of as irresponsible?
As soon as you tell people about your private life, which in my book, finances rank up there in the privacy stakes with sex, you immediately open yourself up to be judged. How much do feel is right to tell people? I am on a budget but I try never to mention it to friends or family. I go out with my allocated money and when that runs out, I am on my way home.
I am sure some people are at ease discussing their financial situation but for me I find it is better to err on the side of caution so there will not any repercussions. How much do you disclose about your finances?