Tag: finances

Indeed, finance can be as crucial as romance when it comes to maintaining lasting matches, according to an Experian survey on the roles credit and financial issues played in ending the marriages of 500 divorced individuals.

Forty-one percent said their exes put their households into too much debt.

Should You Have Known Better?

* A majority of the divorced respondents (53%) said they were financially incompatible with their exes, and 59% said financial issues contributed to the failure of their marriages.

Love is blind, or so it’s said, but when it comes to long-term relationships, there are some differences you can’t hide from forever. This is especially true when it comes to your financial compatibility. A multitude of studies have suggested that the No. 1 source of stress in many relationships is disagreement over money-related issues. Sometimes these disagreements can even lead to divorce for married couples.

Whether you’ve been married five days or five years, it’s never too late to start to have financial conversations with your spouse, because if you don’t start to have them now, when you go to make your next major purchase you may be in for a rude awakening. This can be a nerve-wracking conversation, but luckily there are some technologies available to make it easier to tackle the conversation and understand where you stand on topics such as budget, debt and progress.

Do you sometimes lie awake at night thinking about bills that need to be paid? Does it feel as though you're drowning in debt? If this describes you, you might take solace in the fact that you're not alone. A recent report released by the American Psychological Association (APA) showed that approximately 72% of adults feel stressed about money at least some of the time, and 22% said the amount of stress they experienced was extreme.

Traditional spring cleaning seems to have gone the way of the drive-in movie. But for those of us of a certain generation, I’m sure we all can remember our mothers cleaning out the cupboards and closets as though it were yesterday, to begin the season with everything fresh and clean.

Ironically, many of us associate cleaning with drudgery, but clearing out can be a terrific stress reliever. The same spring cleaning mindset can be said about finances.

You are now married. Congratulations! The wedding went off without a hitch and the honeymoon stage is in full swing. What happens, though, when all the fun is over and real life sets in? Before you know it, the line between your money and your partner’s money becomes murky. What were once your expenses are no longer just yours. What used to be your partner’s financial problems are no longer just his or hers. You have agreed to a lifelong commitment to one another—that includes your financial ups and downs. Yes, you made a commitment to be faithful and loyal in sickness and in health, good times or bad, and in sadness and in joy.

Financial pressures are without doubt one of the biggest causes of conflict in a marriage. Many couples cite money problems as the single biggest cause of arguments, conflict and unhappiness in their relationship. Learning to separate out your financial challenges from your relationship is one of the best things you can do for your marriage. Here are some ways to do that.

First, assume joint responsibility for your financial situation. Many times one person can feel resentful towards the other if they feel they are bearing most (if not all) of the financial burden. Perhaps one feels they are trying to control the finances while the other doesn't want to know about it or continues to spend freely.