Tag: financial

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.

Perhaps you and your husband have been married for a little over a year. You both want children but want to know when is the best time for us to start trying? Is there ever really a best time? Most of your friends already have children, and you’re starting to feel as if you should get started a little sooner than later. That, and both of your parents keep not-so-subtly hinting that they are ready to be grandparents. But are you ready to have kids?

Many relationships can’t take flight until both parties have a candid discussion about money. More specifically, a conversation that prioritizes potentially troubling credit situations that can capsize a marriage. Here's what to know:

Why Talk About Money and Credit?

Yes, people can have bad credit for a variety of reasons, fair and unfair, but a romantic partner with strong credit health has a right to know if his or her significant other has credit problems. In fact, there’s a strong case that credit health should be a big factor in evaluating a romantic partner.

It’s hard to believe that only some 50-odd years ago, a woman’s financial identity was tied explicitly to someone else—her husband, her father or some other male in her life. In the modern age, women make up nearly half of the American workforce. In addition, the average age of marriage is now in the late 20s—and unfortunately, the divorce rate remains high.

In other words, women are in financial control of their destiny. Even if they’re married, most women are still financial earners and maintain their own financial identity. With that in mind, here are critical financial items that every woman should know regardless of their stage of life or marital status.

The tendency to let financial decision-making unfold in relationships without prior planning and communication leads money to be a top contender in couple conflict. All of us have beliefs about money that we bring into marriage, beliefs about how it is all going to work, but too often we do not articulate these beliefs to our partner. Our money beliefs are created, often subconsciously, with influence from our families, society, and gender-related expectations. Often, neither spouse knows what the other expects nor how his or her partner’s beliefs will mesh with his or her own. Hence, the struggle over money.

Are you constantly worried about all the bickering and blaming when it comes to money within your relationship? Well, you are not alone. Follow these simple tips and your marriage can be improved when it comes to finances within your family dynamic.

1. Improve communication. One of the biggest reasons why couples have financial unrest is lack of communication. One of the best ways to combat this is to set up a "financial date night."

It’s easier to commit to a New Year’s resolution if you have company—and who better to team up with than your spouse? Like many couples, you may resolve to work together to improve your financial wellness. Just as you’ll have better luck shedding a few pounds if you have support eliminating sugar from your diet, adopting healthier financial habits can be easier if you both commit to the goal.

Getting your financial house in order generally involves these three steps: save more, pay off your debt and plan for the future. The trouble is, many people simply articulate these goals. While listing these resolutions is terrific, it’s just a first step. You need a plan to make each happen. So, how can you become more proactive to ensure your success?