San Jose man flabbergasts Dave Ramsey when he admits he’s ‘secretly worth millions’ — and he’s kept his ‘spender’ wife in the dark about it

From there, they said Damon needs to apologize, commit to therapy and work on rebuilding trust by budgeting together.

Financial infidelity vs transparency in relationships

Damon’s situation highlights a growing but often overlooked issue: financial infidelity — when one partner hides money, debt or financial decisions from the other. It can create misaligned goals, poor planning and erode trust.

“You’re the problem, not her, and you need to go work on you,” Ramsey told Damon. “This is a weird thing you’ve done — and you need to own that.”

And Damon's not alone. According to a survey by the National Endowment for Financial Education, 43% of US adults admit to committing financial deception in a relationship.

How to rebuild trust

Financial transparency, on the other hand, is about openly sharing everything — income, debts, goals and spending habits. It helps build trust, encourages shared decision-making and allows couples to plan for the future together.

Best practices for financial transparency include:

• Full disclosure early. Couples should discuss their income, debts, assets and financial goals openly before or shortly after getting married.
• Joint budgeting. Using budgeting apps or spreadsheets to plan together helps prevent miscommunication.
• Regular financial check-ins. Monthly or quarterly conversations keep both on the same page.
• Shared access. Even if accounts aren’t merged, having mutual visibility builds trust.
• Counseling or coaching. Working with a therapist or advisor can help couples overcome deeper issues.