![]() However, these steps demand a commitment from both parties. If one partner isn’t being transparent, there are measures that can minimize or solve the problem. Each partner has an obligation to their spouse and their family to be open, honest and responsible when it comes to finances. While falling in love and deciding to spend the rest of your life with someone is undoubtedly wonderful, it’s important to remember that marriage is based on more than love. ![]() This may seem harsh, but if your spouse continues to put your family in jeopardy by behaving irresponsibly with money, you will have to take measures into your own hands to ensure your own financial stability. You can begin by removing your spouse’s name from the household bills, so that only you have access to them and ensure payment is received.įurthermore, setting up your own bank accounts for savings and paying household necessities is another way to ensure your spouse does not have access to your funds. If you’ve done all these steps and your spouse is still behaving irresponsibly, it’s important to protect yourself. You may also want to go to marriage counseling, or a therapist who specializes in financial issues. However, while a financial advisor can provide plenty of practical benefits, they probably don’t have the expertise to get to the root of the problem. An advisor can help you develop a budget and a plan to pay down any debts that need attention. They can also become another person on your team to help you and your spouse rebuild a solid financial foundation for your marriage. Seeking the help of a financial advisor who understands your goals and financial situation is a great way for you and your partner to confront the issues plaguing your marriage. ![]() ![]() However, if your partner is not upholding their end, having the more responsible of you two maintain the finances until the other can get it together will help to keep your household afloat. Remember, you two are still a team, and as such, you need to work together to ensure the financial health of your household. Even with this approach, you will still want to include your spouse in what bills are being paid and when, as well as their amount. One of the best ways to ensure the bills are being paid on time is to allow the more financially responsible partner to take over paying them. You may find that seeking therapy for underlying issues would benefit your partner and your marriage. If they need a line of credit, a secured credit card is a good option that will help them build credit without worrying about getting into too much debt. Try not to scold your partner, but instead understand where they’re coming from. Many of us overspend to deal with deeper issues. Were they never taught how to properly handle finances, or are their spending habits compensating for something else? Also, it’s a good idea to try to get at the heart of why your partner is behaving so irresponsibly with money. If a previous credit check had not been done before, now is the time to check each other’s histories and evaluate where you both stand. Let it be known that lying about finances and money will not be tolerated in your marriage. This means you’ll need to sit your spouse down and be as open and honest as possible. Once you’re married and you see your spouse is financially irresponsible, it’s important to nip it in the bud as soon as possible. Have a Heart-to-Heart With Your Spouse as Soon as Possible In an ideal world, this will help illustrate any potential financial issues long before they become a real problem.ĭuring these discussions, you can also talk about how money will be divided in the household, who is responsible for what bills, how savings will be handled and any other financial goals you may have. This involves simply talking with one another, pulling each other’s credit history or seeking financial counseling before getting married. While some believe a prenuptial agreement is the antithesis of romance, it can allow both parties to air their financial history openly.Įven if you choose not to get a prenup, though, there are still plenty of steps you can take to achieve success. If it’s possible, try to learn about your spouse’s financial tendencies before you actually sign the marriage documents. Be Honest With Yourself About Their Financial Tendencies Before Marriageįor many people who get married, their financial issues should’ve been worked out years before. ![]()
0 Comments
Leave a Reply. |