Could debt be the factor that’s driving you and your partner apart? There’s a cliché saying that goes this way, “Money can’t buy happiness”. But fights caused by money can surely ruin marriage. Couples who fight about money and financial matters are common. Instead of wasting time arguing about money, think of creating a strategic spending plan. We’ve come up with 3 ways to help you get started.
Don’t Keep Money Secrets from Your Partner
Believe it or not, there is a good chance your partner has spent $500 or more without telling you. If you and your partner don’t always have the same views on spending and budgeting, arguments can quickly unravel. Start with a small conversation about what constitutes a big purchase and start with the most important things, such as a house, a car or even a car loan. If your partner was a businessman/businesswoman, how much would you like to know about the idea of a partnership? Are there any overdue payments? Once you are more open about your spending habits, your relationship will likely grow.
Combined Effort in Paying Off Debt
The average US household stands on nearly $16,000 in debt. You don’t have to be ashamed of your debts, but you should at least talk to your spouse about them, especially if it’s a large one. It’s a small part of your life and you don’t feel like you have to get a grip on it, but it’s something you have to deal with. Be open about your finances and try to make debt repayment a collaborative effort.
The right debt management plan can help you and your partner eliminate outstanding payments and the length of time it takes to repay them. Create a financial plan tailored to both you and your partner’s debts.
Stop Playing the Blame Game
Instead of spending time blaming each other for the debts spiraling out of control, make a time to discuss it together, with a clear plan for each of you. Create a budget and spending plan and strive hard to get your finances back on track. If you need help setting a budget, you can always CreditGUARD of America for help setting your finances. Remember, lack of communication is the source of many marital issues. Like any other issue, it can lead to bigger problems with much harder solutions. Share your struggles with your partner and discuss your issues openly, regularly, and honestly.
If your marriage is struggling and needs help with financial planning, why not consider a nonprofit debt management program? CreditGUARD of America is offering a free, professional, and financial enhancement session for couples that have way too much debt. Save your marriage, call us today at 800-282-8497. For more information, visit CreditGUARD of America at https://www.creditguard.org