Crazy Money! A Case of Financial Dishonesty

It’s Crazy Money Day!

The most important financial decision you make has nothing to do with the stock market. In a 2017 HBO documentary, Warren Buffet said it’s who you marry. Well, I agree! According to Yahoo Finance, a 41-year-old Florida woman is considering bankruptcy. In 2021, she had no credit card debt, $500,000 in the bank, and a mortgage-free home. Unfortunately, her ex-husband, described by authorities as a “con artist,” spent it all. This man took complete control of their finances. He didn’t pay credit card bills and her name was on several of them. 11 years after they married, they opened a joint account but there was almost no financial transparency in their marriage. She believes he may have lost the money by investing in cryptocurrency!

A survey at Bread Financial revealed that 16% of people admitted to hiding ownership of crypto. Because it’s considered a highly risky investment, people conceal purchases to avoid upsetting their spouses. Marriage takes both hands working together under a common head. Communication and planning grounded in Biblical financial principles are key. Have you hidden something from your spouse? James 5:16 says, “…confess your sins to each other and pray for each other so that you may be healed.” Seek forgiveness from the Lord – and one another. Complete honesty and transparency are essential. Establish a new foundation of trust built on the love of God.

If financial dishonesty has led you to credit card debt, Christian Credit Counselors can help. They’ll create a debt management plan specifically for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.