presented by: Gary Massey
Love is indeed many a splendored thing, but financial woes can unfortunately be one of the issues that can cloud the proverbial sky of even the most stress-free relationship. In order to help couples everywhere avoid future financial spats, Creditcards.com interviewed relationship and financial experts to come up with practical solutions to finance-related feuds that can put a strain on a happy twosome. The following are three common problems and their solutions:
Lying about purchases: Lying about money and purchases you may have made, i.e. rounding down what you spent or neglecting to tell your partner all together, is risky to a couple’s financial health and can cause feeling of distrust and betrayal.
Solution: Have a date to discuss your financial needs and wants, and talk about specific things like budgets and spending habits and limits. Setting aside date time will show that you are both on the same team and will allow extra time to chat, instead of doing it late at night or before bed. Also, check in frequently with your mate.
“You don’t make enough/I make more money than you”: How much each person brings home can be a hot button issue. Partners who may make more and brag about it may be harboring resentment that they are largely the one keeping things afloat, and can belittle a partner.
Solution: For those that make more and may want to point it out, look at the other contributions of your mate (such as running errands or doing household work) to see the roles each of you play and how they complement each other. If one of you could be doing more in a certain area, create a plan to reach that goal together.
What you see as a “want” your partner sees as a “need”: Something one-half of a pair sees as a luxury, the other views as a necessity, like vacations or new appliances/electronics. A partner who is always satisfying their “wants” can wreak havoc on a relationship, creating debt that can lead to extra money problems.
Solution: The “matched pairs technique” can help. Each person makes a list of things they “want,” then the couple compares to see which items match up; anything that matches can be a goal to work towards to purchase, and unmatching items should receive less priority because they were not mutual. Create a “want” savings account to afford those little luxuries.
These sensible solutions to common money-related quarrels can help a couple avoid loosening any of the ties that bind a union. However, sometimes financial problems and overpowering debt can be too much to handle and become overwhelming, whether you are coupled up or not. If this happens, a skilled Chattanooga bankruptcy lawyer at Massey & Associates, P.C. can help eliminate debt and sort out complicated financial matters. To see how our law team can assist you, please call (423) 396-0720.
Gary Massey, Jr., is a well-known courtroom advocate practicing law in Chattanooga, Tennessee. Gary is a native of Tennessee who began practicing law in 1998. He graduated from Cumberland School of Law where he was ranked in the top 3% of his class and was an editor of the Cumberland Law Review.
