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How To Prevent Debt From Ruining Your Marriage ~ Debt takes a huge toll on a marriage and many times a marriage just can't take it. There are things you can do to get both of you on the same page and work together instead of against each other. marriage | debt | get out of debt | money | family finance | save my marriage #getoutofdebt # marriage #money

How To Prevent Debt From Ruining Your Marriage ~ Recent studies have revealed that 22% of all marriages that end in divorce is due to money-related issues. It’s no secret that money can put a severe strain on any relationship, especially if one partner is more prone to spending than the other.

Be honest for a moment – have your partner’s spending habits ever caused an argument? Or perhaps you are the spender who tends to buy things you can’t really afford. It blows my mind how the universe (almost) always bring two people together that are financial mismatches. The problem is that over time, with excessive spending, debts can amount to a substantial amount and both of them will be responsible for paying it off.

How To Prevent Debt From Ruining Your Marriage

This is where the real issue starts – in the form of resentment. Nobody likes to be blamed or liable for something that’s not their fault. But since you’re already in this situation and you love your partner and don’t want your marriage to end in divorce, there are a few things you can do to improve your financial situation and prevent your marriage from becoming one of the statistics.

Learn to communicate

Communication is vital in any relationship, especially when it comes to finances. Adopt an attitude that you are building a life together and that the choices you make should positively impact that life. Talk about spending habits and about changes that need to happen to get out of debt. Everything in life has financial implications, and if you don’t talk about them, your marriage won’t last long.

Understand your partner’s mindset about money

There is a big chance that the way your spouse grew up will differ from your upbringing, especially when it comes to money matters. You partner’s spending habits might be due to a lack of financial education from his/her parents. Your partner might not even be aware that they have a spending problem, so before you start throwing around accusations, communicate with your partner and try to understand their views on money.

Set up a budget and stick to it

You don’t have to necessarily merge your finances to reach a healthy financial state, however, setting up a budget and strictly adhering to it, is crucial. Budgeting together as a couple will help you achieve goals you set together. Keep track of spending on a regular basis to ensure you are on the same page and that no one is overspending. Creating healthy spending habits and sticking to it will bring you closer as a couple and limit fights about money.

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Create a plan to get out of debt

Stop playing the blame game and get a game plan to get out of debt together. For better or for worse, right? If neither of you can come up with a plan, seek professional help from a debt counselor such as Debt Counselling Pro. Set goals together and be specific with a timeline and amounts – this will help you stay on track and keep you from getting demotivated. You will soon find that working together towards one goal will strengthen your marriage.

Allow your spouse some breathing room

Discussing each and every purchase with your partner can feel very restricting especially if you need to defend a purchase your partner doesn’t approve of. Allow each party a separate “spending” budget to use as they see fit. This way, both will still feel like they have some form of control over their finances. An occasional splurge isn’t a bad thing as long as both parties give consent. Couples can reap the benefits from dinner at a fancy restaurant or a weekend away, just don’t make splurging the norm.

Don’t lie to your partner about your spending

The worst thing you can do is to lie to your partner about your finances and spending. No one likes being micromanaged but lying about spending can be toxic to any relationship and eventually lead to emotional issues such as guilt by the lying partner and mistrust by the deceived partner. If you had a moment of weakness and overspent on your budget, be honest with your spouse and find a solution together. Don’t look for excuses to justify your mistake: own it, apologize and go on from there.

There are many things you can do to save more money. Check out these post for some great tips.

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Don’t try to keep up with the Joneses

We live in a world where we are conditioned to be alike in what we believe to be the perfect life. But the worst thing you can do is to compare yourselves to your neighbors, friends and family. Once you’ve created a budget, you’ll know what you can and can’t afford as a couple – always live within your means.

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Remember you’re in this together

If you really love your partner, but you’re struggling with financial stress for whatever reason, remember that you’re in this together. And if both of you are willing to start with a clean slate and make better financial decisions in future, your marriage will grow stronger than ever before. Remember that every couple fights about money at one point or another, it’s how you argue that matters. Avoid using words like “irresponsible” or “reckless” to describe their behavior. Treat our spouse like you want to be treated.

Financial strain can put tremendous stress on a marriage, and if couples don’t work through their issues and find a solution together, they’ll be heading to the divorce court in no time. Don’t let debt ruin your relationship with your partner – follow the suggestions mentioned above and save your marriage one debt repayment at a time.

How To Prevent Debt From Ruining Your Marriage

Author: Adele is a freelance content writer, passionate about Traveling and Food and offers her DIY Tips as an extra

 

 

Debt takes a huge toll on a marriage and many times a marriage just can't take it. There are things you can do to get both of you on the same page and work together instead of against each other. marriage | debt | get out of debt | money | family finance | save my marriage #getoutofdebt # marriage #money

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7 Steps to Financial Freedom ~ Free email course. Take your life back. Join Now!!

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