May 22, 2009

The figures never lie

Sometimes it is only when things get so bad, that all the finance secrets start to come out. As with the financial institutions who managed to hide their exposure to bad debt, so do individuals sometimes hide the truth about their current financial status.

These lies often lead to a serious breakdown the relationship, so what are the most common ways of hiding financial difficulties?

Hiding credit card statements – One of the easiest ways to spend money undetected is to charge it
Concealing gambling winnings or losses – Gambling is a very expensive pastime
Understating spending – Some financial lies are more like half-truths
Secret bank accounts – Opening a secret bank account is often done with good intentions
Secret credit cards – Keeping credit cards a secret is surprisingly common

These are just clues to show that something is going wrong, the sooner the problem comes to light the better off all parties will be.

Source [Invest Money Stocks]