Top 10 Ways to Avoid Financial Issues in Relationships
Financial problems are one of the most stressful things to deal with. Relationship counselors opine that a common cause for troubles in a relationship is finance. It is a major deal breaker where personal partnerships are concerned; more so when your problems also include and affect your partner.
In that case, it no longer remains solely your personal problem. When joint finances are concerned, when someone’s future is linked with that of your own, then any kind of instability disturbs the equilibrium of their position as well.
Also, it is a proven fact that men and women behave differently in handling money. Personal background, family values, upbringing etc also play a key role in molding a person’s spending or saving traits. Some people like taking risks more often, while others have a more conservative take on spending. With recession, inflation, and financial instability hitting the market in general, money matters can be cause of huge concern if not sorted out amicably.
Here are top ten ways that will help you to steer away financial issues from affecting your relationship –
- When you maintain transparency: We all know every relationship should stand on a strong platform of trust, sharing and confidence in each other. This should extend to financial issues as well. Surprises, especially unpleasant ones, are mostly unwelcome. So if you are contemplating a secret bank account or not disclosing any of your assets to your partner, it would not be a good idea to indulge in it.
- When you jointly make financial decisions: The best way to avoid fights is to involve your partner in the decision making process. That way she/he cannot blame you even if things go wrong. Try to plan a monthly spending budget and stick to it. Any extra expenses should be discussed beforehand. Keep aside a fund for emergencies so that you don’t have to worry a lot in case any such situation arises.
- When you keep debt at bay: Debts are a huge burden on monthly finances. To be more precise, paying off debts take a huge toll on your monthly budget. But in today’s modern world we are all resorting to them – home loans, car loans etc are also forms of debt. Consider your job stability before going for any such financial obligation. Also, your debt should never exceed your paying back capacity.
- When you take time to plan things out: Planning gives time and opportunity to your partner to mentally prepare her/himself for the upcoming situation. So if you discuss things in details with your mate and plan out monetary issues, your partner will also be able to make suggestions, and hold joint responsibility come what may.
- When you set practical expectations: This should be backed by the fact that you both of you should be well aware of each other’s life style, spending habits, credit history etc. This helps both of you to be fully aware of what is in store.
- When you are honest with your partner about finances: Hiding something from your partner may make it seem a great solution to divert fights. However, this is not how things work. One lie may lead to another. Lies can also backfire. Also, getting caught may break the trust and will hurt your mate much more.
- When you are mature to own mistakes: When in soup, remember, playing the blame game has never helped anyone. So it is best to own mistakes when and if you make one. Also, the other person should appreciate the effort and honesty and deal the situation with honesty and sympathy.
- When you are not a control freak: If you are a person who likes to keep a sole control on situations, it may hamper the balance of your relationship. This situation may arise when only one of the partners earns, or if there is a huge difference between the earnings of the two partners.
- When you develop responsible spending habits: Giving in to indulgences sound great. Being pampered with lavishness sounds great. But when put in practical context, they may cause trouble. The trick is to give it a good thought before you make a purchase.
- When you let other issues seep in while sorting financial issues: If your relationship is going through a general downtime, you may be stressed in general. A small financial problem in this situation may spark a huge fight.
Remember, it is unwise to put away financial discussions just because they make you and your partner quarrel a lot. A relationship that cannot overcome monetary woes is a highly insecure and brittle one. In fact, the fact that talking about money makes you two argue is a clear indication that there are certain points about which you are not on a same plane. The sooner the issues get solved, the better for a happier relationship.
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