Money mistake that cost woman $40,000 home and marriage: ‘Husband’s betrayal’

One person in a couple often takes the reins when managing the money. But this terrible tale of caution I’m about to share is why I’m a huge advocate of everyone being involved in reviewing the household budget.

This woman – we’ll call her Sharee – was on the brink of an exciting new chapter. She was days away from finalising the purchase of a new business – a milestone moment that symbolised her hard work, determination and ambition, after a decade of building her career in sales.

But then, a startling phone call changed everything.

The current owner of the business Sharee was buying called to inform her of an unusual request. She explained that Sharee’s husband had been in touch, asking to delay the business sale by six months.

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Alarm bells instantly rang for Sharee. Why would her husband intervene without consulting her? Why would he go behind her back? And why did he want to delay the sale in the first place?

“I think you need to talk to your husband,” the seller said. “Or perhaps call your bank…”

Feeling sick to her stomach, Sharee drove straight to the bank. What she uncovered next was shocking.

Her husband had drained all of her accounts. Years’ and years’ worth of savings were gone. The mortgage was in default, as no payments had been made in six months. On top of that, new joint credit cards had been opened in her name, and her husband had racked up $40,000 in debt.

Sharee’s story underscores why everyone, and every woman in particular, should be tuned into her financial situation.

It also gives some context as to why a recent Finder survey of 1,096 respondents revealed that 1 in 5 Australians (21 per cent) – equivalent to 4.2 million people – think lying to your partner about finances is worse than physically cheating.

Finder research also shows that 1.6 million Aussies have a hidden bank account.

I’m not sure if this is a reason for celebration or concern – if you’re in an abusive situation trying to claw your way out, a hidden account could be a lifeline – but it definitely highlights how crucial access to money is for all of us.

It gives us options and choices, at times when we might be faced with the toughest choices of all.

This was the case for Sharee, who found that the next steps were a complete nightmare.

After she discovered the extent of her husband’s betrayal – which was fuelled by a devastating gambling addiction – she ended the marriage. She then had to rebuild her entire life, literally from scratch.

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