Any way to hide an application from other users on same computer?

I recently purchased an iMac and have set up user accounts for myself and my wife. I am one of those people who likes to install lots of applications on my computer...many of which my wife will not use. Is there any way I can get these applications NOT to show up in her Applications window on Finder so she does not have to wade through them? I see how to change the program to "No access" for her, but they still show up in her Applications list (just with a folder icon instead of the program's actual icon). I don't want them to show up at all. Is there a way to do this? Thanks.