Three Signs Of Financial Trouble For Couples

Three Signs Of Financial Trouble For Couples

Three Signs Of Financial : While the recession gives us an obvious sign that the country is in financial trouble, there are other ways of finding money issues within our own households. Let’s look at three challenges many couples face in handling money together.

We argue about money.

There are many reasons why couples argue about their finances. We will just scratch the surface with a couple of the more common circumstances.

Entitlement is a huge cause for argument. If I earned the money, I should be able to spend it the way I want, right? Well, that thinking might have been fine when single, but it doesn’t work well with a family.

Then there is the ostrich syndrome. One spouse always seems to have his or her head in the sand when it comes to the household budget. This person is pretty clueless about how much money is actually available to spend.

At times, it is a self-induced position, and this spouse doesn’t care to know or understand why the checks keep bouncing. Other times, one spouse keeps the other in the dark. Neither is good, and both are grounds for heated discussions.

I hide my purchases from my spouse.

Spouses don’t always agree on the best uses of the household income. Sometimes, husbands want new power tool toys, and wives can’t wait to get a new pair of shoes.

In the interest of not causing further argument, many shoppers find themselves sneaking their “forbidden” purchases into the house. We put a lot of effort into making it appear as if that item had been there all along.

We have no savings.

When we feel entitled to spend money as we choose, are clueless about our actual household budget, and hide purchases from our spouse, the chances of having money saved are pretty slim.

Many families find themselves short on “rainy day” emergency money. If something were to arise suddenly, there would be a rush to use a credit card or to borrow from friends or family. Even worse, some couples may consider a payday loan.

It can be hard to think beyond today when there are so many important things that are happening in the present. But, at the same time, we must still be able to handle the potential unknowns that could catch us by surprise. Most quick solutions dig us deeper and deeper into debt.

Problem solved

These tactics can cause so much damage to relationships. There are many harmful issues going on here, including selfishness, dishonesty, and a lack of trust. No relationship can survive under these conditions.

The sooner we recognize whether any of these signs are present in our homes, the more quickly we will be able to work on a plan of action to correct it.

Couples must be open about how money will be spent within the household. There must be agreement, and at times, compromise may be necessary.

There must be a clear distinction between needs, wants, and desires – as determined by the couple. This will ensure that the most important needs within the home are always met first.

Open communication between couples can work wonders with respect to the household’s financial stability. It won’t always be easy and will remain a work in progress, but, as a result, the relationship can thrive.

Finance