Why Women Need a Secret Bank Account

All women who share finances and money with a significant other or their husband should have a secret bank account or a secret place to hide cash. This may sound comical, sneaky or even deceitful but it's excellent advice for managing your finances and keeping an emergency money stash. No one must know about this secret bankroll. This is an integral part of women's personal finance and should be included in all books on the subject.

The reason for such secrecy is simply that if someone else relies on you to provide or contribute financially, there will always be a reason to spend your secret money. If you do not work and are dependent on your husband's salary to support you, there may come a day where you need this money to survive. All women need to have their own bankroll and keep their personal finance situation in good shape.

This money is not "mad money" to spend on frivolous fun outings, fancy clothing or vacations. This money is a secret fund to help you in case of a tragedy. It's not something most women think about, but one day your husband or co-habitating significant other could leave you without warning or, your relationship may deteriorate to the point of you having to walking out on him.

If you think that your husband will find out that you opened a bank account because of the interest which is reported to the IRS at tax time, another idea is to sock away cash in a pair of rarely worn shoes or a handbag that you keep hidden in the back of your closet. Or you can open a non- interest bearing checking account, throw away the checks and only keep the debit card. You can avoid having statements sent to the house by choosing email delivery of monthly statements.

If you think there is no way to hide the disappearance of cash from your husband or significant other, think again! Here are some ideas to siphon money into your secret bankroll:

1. Keep all your spare change each day and use toward your secret bankroll.

2. If you travel for your job and your company pays your expenses to you in a separate check other than in your paycheck, use this money.

3. Keep all payments from flexible savings account or insurance payments that come in the mail.

4. Use the surplus food budget money. If you are a homemaker and don't work, use coupons and sales when you go grocery shopping and divert the money you saved into your secret bankroll.

5. Write articles for Associated Content and use the income to fund your secret bankroll.

You will notice a new feeling of security when your secret bankroll increases and you get in the habit of accumulating money. Don't feel guilty about this secret account. Women need to be protected in case of emergencies!