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Financial Infidelity and How to Avoid It

Financial infidelity is hiding the accurate financial picture of what a couple's finances are in a relationship.  Financial infidelity could include: Hiding shopping purchases. Lending money to others. Having hidden bank accounts or credit cards. Not informing your partner about your income.   Financial Infidelity Can Ruin a Relationship It's risky to bring financial infidelity into a relationship because it could lead to deception in other areas of an individual's life. For example, not being truthful about one's spending habits can lead to the need to hide clothes in a closet or lie about when you bought a particular item. The stress of financial infidelity can lead to the destruction of a relationship. This comes when one partner's trust is broken. Trust can be compromised when one person puts their needs or desires ahead of what's in the relationship's best interest. See my feature in the  9 Secret Habits of People With Credit Scores Above 800 Talk Abo

4 Reasons Why Your Expenses Are Breaking the Bank

Oh no! Your budget has taken a nosedive, and you don't know where it all went wrong. Trust me, many of us have been here and have not figured out where the money is at the end of the month. There are many reasons why this could happen to you. Here are some reasons why your budget didn't work this month and how you can get it back on track. Eating Out Too Much These costs come from not taking lunch to work and picking up dinner from a fast-food restaurant on the way home. Look at your bank account and see how much money you've spent eating out in a month. To save money, eat breakfast before leaving home and consider taking your lunch. Preparing your meals can reduce your eating out expenses by two-thirds. Tips to Save Money on Groceries Your Utility Bill Fluctuates You may be wasting money by not making repairs to your home. If you have a running faucet or toilet, this can increase your utility bill. Leaving lights on when you leave a room also creates an added expense. Take

4 Ways To Plan For Retirement

Your priorities of planning for retirement may change as you age. When planning for retirement, four things to consider are your income, home mortgage, future planning, and managing debt. Balancing your income, debt, and life's unexpected challenges as you age is essential to preparing for a financially secure retirement. Read on for four things you can do to prepare for retirement.  Know Your Retirement Number Knowing how much income you will need for retirement can help you keep track of your goal. When calculating your retirement number, consider the age you claim social security, any retirement contributions, your current salary, and the age that you want to retire.  In a recent MoneyRates article , I discussed that "To maintain a resemblance of your current financial situation, plan to have 80% of your current annual income. If you will be retired for 30 years and earn $80,000 annually, your retirement savings goal would be $1,920,000."   Calculate your retirement nu