“I’m thinking about filing for bankruptcy.” This Florida woman had $500,000 in the bank, a mortgage-free home, and no debt. She is now totally broke, all due to her husband’s financial infidelity.

Warren Buffett once said that the most important decision you can make is who you choose to marry. In the case of Kyle Rebolledo, this couldn’t be more true.

The 41-year-old Florida woman took to TikTok to detail how her husband completely decimated their savings. Rebolledo said she had it all in 2021: a mortgage-free home, $500,000 in the bank and zero credit card debt. But now all that is over.

“I’m thinking about filing for bankruptcy,” he revealed.

Table of Contents

do not miss

Rebolledo added in a follow-up video that she is in this situation because her husband spent all her money, and he didn’t just tick his off, but the feds too. He said authorities described his ex as a “con artist” and that he had been arrested for financial crimes.

Although Rebolledo’s situation is a serious case, financial infidelity is not that uncommon. Nearly half of people in relationships admitted to committing financial deception, including hiding outstanding credit card balances and expensive purchases, according to a recent Bread Financial survey.

So how can you make sure your spouse or long-term partner doesn’t displace you?

Be careful with cryptocurrencies

Rebolledo still isn’t sure how her husband managed to spend all their money. But she said in another video that she believes he might have lost it by investing in cryptocurrencies.

Cryptocurrencies have become a common financial secret within relationships. The Bread Financial survey revealed that 16% of people (12% of men and 4% of women) admitted to owning hidden cryptocurrencies. Although the survey did not delve into the whys, it is likely because cryptocurrencies are often considered a risky investment and respondents did not want to risk upsetting their partners.

Charlie Munger, Warren Buffett’s late right-hand man, criticized cryptocurrencies at a 2023 conference, claiming they had too much “hype.” She even called for its complete ban in a Wall Street Journal op-ed, calling it a “gambling contract.”

Cryptocurrencies are a particularly volatile investment. Although some have become bullish on the commodity (like CNBC’s Jim Cramer), there are still many skeptics.

This is probably due to the unstable nature of the crypto market. In 2022, CNBC reported that Bitcoin had fallen over 60%, along with a huge nosedive of the entire cryptocurrency market amid the FTX implosion.

Because cryptocurrencies are considered so risky, they can be contentious between two people in a relationship, making them an ideal candidate for a hidden financial decision.

A good way to make sure your partner doesn’t waste all their money on cryptocurrencies is to discuss both of your investment risk tolerances. That way, you can talk about what is considered an acceptable investment for the two of you and avoid secret investments in the future.

Read more: Thanks to Jeff Bezos, you can now cash in on prime real estate, without the headache of ownership. That is how

Don’t let go of control

Rebolledo’s husband took full control of her finances. She had assumed he was paying his credit card bills on time, but he never paid them at all. Because her name appeared on several of the cards, she said her credit score dropped from 740 to around 500.

Additionally, he mentioned in another video that they had never had a joint account until 2022, 11 years after getting married. There was almost no financial transparency in their relationship.

Lack of openness around money can be a sign of financial infidelity. The Bread Financial survey found that 48% of respondents discovered a surprise when they started sharing one or more bank accounts with their partner.

While some found good news, others found frivolous spending habits, poor credit scores, and poor financial management.

Consider asking your partner to show you their financial situation and to show you yours. She wants to avoid the kind of financial surprises Rebolledo encountered after her husband’s arrest.

What to read next

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

By Sam