If you partner or spouse is bad with money – and it’s putting a strain on your relationship and your wallet – what can you do?
Money problems can put a lot of stress on a relationship. If you are constantly worried about whether you can pay your bills, that can lead to feeling like you don’t have any security in your life. However, that uncertainty increases ten-fold if you don’t feel like you can trust your partner to be responsible with money. You might love them very much, but if you don’t feel like you can trust them with a debit card, what do you do?
The first step to solving a problem is being honest about it. Talking about money can be truly uncomfortable, but it’s best faced head-on. Discuss your spouse’s habits, and make sure they understand how you feel. Listen to them, and their feelings, as well. You need to get this issue out into the open, and it has to be talked about at length.
Once you’ve established what habits need to change, the next step is finding ways to change them. One method is to sit down with your partner and pay your bills together. If they see where the money comes from, and where it goes, then it often puts their own spending habits in perspective. This won’t necessarily correct all their habits, but it can be a useful, educational experience.
Changing ingrained habits is not easy, and if you try to make big changes all at once then you aren’t likely to have long-term success. Instead, try to focus on small changes that solve your immediate problems.
For example, if you carry cash instead of a credit card, it often means you won’t spend as much because you have a physical amount of money. Alternatively, you might ask that your spouse contact you before making any non-essential purchases over a certain amount. You don’t need to have a discussion if they’re going out for a burger on their lunch break, but buying a new iPad or other gadget is a conversation you both should have. Yes, even if it is on sale, and it’s a deal that’s, “too good to pass up.”
Every individual, and every couple, is different. You need to find the solutions that work for you, and your situation.
If some bad financial decisions have caught your temporarily unawares, you can get a quick and easy financial fix from Pay2Day. We offer timely and manageable solutions until your next payday comes around.