Last month, we wrote about the Forbes survey that found that nearly one-third of of those who combined finances had admitted to lying to spouses about money. But once you’ve cheated, what’s the best way to come clean to your better half?

Over at Reuters’ Prism Money blog, they’ve talked to some experts to get a few pointers on how and when to fess up about your financial infidelity.

The three main things, according to Reuters are:

Find the right time
“Wait for a quiet, intimate moment, and then break the bad news in the most respectful and empathetic manner possible.”

Share your credit record
Don’t just tell your spouse about that ten large you lost playing Keno in Reno; bust out that credit report and let him/her know exactly where you stand financially. “Otherwise, when you’re both applying for a home or car loan, the truth could come out in shocking fashion.”

Focus on the positives
Yes, it’s not going to be pleasant to reveal your money problems to your spouse, but being proactive and coming clean now can pay dividends in the long run. “When I stopped lying about our finances, it took tons of pressure off me,” one reformed financial cheater tells Reuters. “Now we’re both involved in the decision-making, and both on the same page. There’s no more 800-pound gorilla in the room.”

If that 31% rate is accurate, then at least a few of you have had to cope with a spouse or partner lying about their finances. What did you learn and what advice would you share for others facing the same ordeal?

Liar, liar: How to come clean with your spouse about money [Reuters]

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