subject: The 3 Financial Changes That Could Make or Break Your Relationship [print this page] The 3 Financial Changes That Could Make or Break Your Relationship
Relationships require hard work and commitment and like most things in life there can be no denying that they always have their ups and downs. One of the biggest issues that couples must negotiate is that of their finances.
Throughout life couples will inevitably face various financial situations together and according to recent polls, financial arguments are one of the biggest causes of the breakdown of relationships. With this in mind we take a look at three of the biggest financial issues that couples often face and consider the ways in which couples can overcome these financial issues successfully
Issue 1: Overspending
As individuals we each have a different approach to our finances. Some people manage their finances very carefully and only spend when required. Other people prefer to approach their finances with a much more carefree attitude and enjoy the money they have worked so hard to earn.
Unfortunately, when the two individuals in a relationship have a different approach to spending it can lead to problems. Realistically it is unlikely that either person will change their financial values and as such in these circumstances compromise is required.
One potential solution is to physically set aside money for each individual to spend as they wish. This offers both parties the financial freedom they may crave while still ensuring that financial commitments are met.
Issue 2: Unemployment
When one party in a relationship becomes unemployed it can place a great deal of strain on a couple. Unfortunately, when one person suddenly becomes solely responsible for providing the income for their household it can lead to a great deal of stress and resentment. From the perspective of the person who has lost their job they often become frustrated and can find that it affects their confidence and mood. All of this can create huge levels of tension in a relationship which threatens to over-spill into an argument at any given moment.
One way to resolve this issue is simply to sit down and talk about it. If both parties are prepared to listen to how the other person feels and to listen to how the other person believes the issue should be dealt with, a plan of action can be formed. By having a plan which both people believe in and have contributed to control is given back to the couple
Issue 3: Having a Baby
Having a Baby is a cause for great celebration, but for many couples the financial impact can be a shock. On average the cost of having a child is 9,500 a year and the changes and sacrifices that must be made in order to accommodate this new family member can often cause arguments.
Once again the solution here is to take control. Simply by understanding how this change will impact your finances and having a plan to manage this change you and your partner can concentrate on enjoying this life changing experience.
