How to Hide Money from Your Spouse

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Money Management

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The idea that anyone would commit financial infidelity in a marriage can sound like a really bad thing.

However, putting money aside in a secret account and spending it secretly can be a legitimate plan in many circumstances: you could worry that your spouse won’t pay child support or alimony in the event of a divorce, you may not have enough money to get a divorce should you need one, your spouse may unreasonably oppose your wishes to financially support a friend or family member, or you may simply not trust your spouse to take care of your needs when they arise.

It’s important to understand that, unlike marital infidelity, there is nothing illegal about financial infidelity. The law does not require that married couples fully disclose their finances to each other; issues with keeping financial secrets in a marriage are cultural and moral, not legal. While there is a lot to be said about the free sharing of information in a marriage, many marriages aren’t ideally suited to openness.

If you’re planning on starting a secret fund, you’re not alone: about 6 percent of married people maintain such funds. However, how do you go about creating a secret fund? The following tips could help you get started.

1. Plan in advance on putting any new income away

The human resources department at any company is usually willing to entertain requests by employees to split paychecks and deposit parts into separate bank accounts. The next time you expect a raise, then, your HR department could direct deposit the extra money into a new account that you specify, and your old salary account could continue to see the value of the old paycheck coming in. The extra money should keep adding up.

2. Don’t pay your taxes jointly

Nearly all married couples file their taxes jointly. However, it isn’t an unromantic thing to do to file separately.

In many cases, people can save on their taxes when they file separately: you may be able to qualify for a lower tax bracket, you may qualify for medical expense deductions among other deductions, and you may protect yourself from any child support obligations your spouse has from a previous partnership.

These can be reasons you are able to present to your spouse as ways to save money by filing separately. Once you’re able to file separately, you could ask your human resources department at work to greatly increase your tax withholding. This could take money out of your paycheck, send it to the IRS, and have it come back as a tax refund. You would have to file a separate W-4, however, and have the check deposited in a separate account. If you’re asking for a paper check, however, you’d need to give the IRS a separate address on Form 8822.

3. Plan for cashback awards

If you’re the one who does all the shopping around the house, making purchases that you get cashback rewards on can be a great way to get cash under the radar. All you need do is use your debit card every time you shop.

4. Apply for your own credit card

Having an independent credit card can give you access to funds that you may need at some point. The law requires that you use a proper street address to apply for a credit card. However, if you could manage to apply for one and receive it in the mail at a time that your spouse is away on business or for any other reason, you could receive the card and then change the address with the credit card issuer to a PO Box. Not only can such a credit card offer access to emergency funds, but it can also help you build credit in your name should you decide to get a divorce at some point.

Setting aside your own secret funds can be a good way to protect your interests, but the plan can be problematic in the event that you should actually head into divorce. The law requires that you disclose all your assets to the court so that they can be divided equitably. For this reason, you might need to save the money that you are able to set aside with a trusted family member. It could also be money that you need to spend before you actually get to divorce court. Your secret fund could also help you with other legitimate plans that aren’t divorce-related. If a secret fund seems like it could be a good idea, it’s important to understand that it isn’t necessarily financial infidelity to maintain one or spend out of one. It depends on what your specific circumstances are.

About the Author

Thomas P. is an avid reader and writer who enjoys studying the history of wealth in America and sharing his opinions in guest posts like this article about financial infidelity. When he’s not judging people by their actions, Thomas enjoys reading The Great Gatsby by the pool while sipping on a Diet Coke.