Don’t let money ruin your relationship
Relationships are complicated enough, but throw a little monetary stress in the mix and you may be headed down the road to Splitsville. In fact, it’s the number one problem in marriages and the number one cause of divorce. So, here are three financial mistakes to avoid in order to keep your relationship stress-free.
Keeping Your Finances To Yourself —You need to put it all out on the table and talk about your financial status, including debts, loans, poor spending habits, and obsessive monetary behaviors, to say the least. It is important to let your partner in on your financial goof ups so that problems don’t arise later on in the relationship. This allows you to set goals as a couple and move further.
Valuing Materialistic “Things” —Couples who are materialistic usually have the hardest time managing money. However, a recent study by BYU and William Paterson University found that it wasn’t the lack of money itself that created problems for couples, especially those with money to spend, but the bad habit of excessive spending on things of no substance that raises concerns.
Adopting Old-fashioned Ways —If you ask a certain age demographic who controls the finances, almost all, if not all, will reply that their husbands or male partners do. This has a lot to do with traditional beliefs that men should handle the strategic financial planning and investments while women take care of the day-to-day finances. The problem with this mentality is that it may not work for every couple and depending on a person’s strong point, the roles can be reversed.