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Do you or your spouse have ongoing money problems?
If so, this contributed post is for you. It’s time you get a handle of your finances and avoid draining your bank accounts.
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We’ve spoken about money and relationships a few times now, and with good reason.
This is one of the most significant hurdles in our financial lives. While the boundaries on money used to be clear-cut, more couples are now struggling to find a balance here.
After all, many women are not the primary breadwinners in their households.
That’s cause for celebration on a whole number of levels, but it has led to a change in the way we manage household finances.
Here’s how to fix common money problems in your relationships.
Money problems in relationships: An introduction
In days of old, the man would go out to work while the women stayed home to look after the house.
There was no question of money back then because only one person was earning.
Many years and societal improvements later, some couples haven’t got a clue what to do. Even going out for dinner can be a complicated process.
And, your difficulties here aren’t over once you get past those technicalities.
Even if you’re sharing rent and grocery shops, you’re not out of the red zone. Often, couples who think they have finances sorted can be shaken by money problems.
If your partner gets into an expensive accident or an unexpected debt, it can be challenging to decide what to do.
Your reflex may be to chuck more money at the problem, but that could leave your finances in trouble, too.
There are ways to help a partner through their money problems without clearing your bank account. Read on to find out what they are.
Related: Pay Off Debt And Save Money In 2019
Put them in contact with the right people
Where there’s a financial emergency, there’s probably someone who can help.
When they’re in the thick of things, your partner may not even think of this.
They won’t be able to see past the stress of mounting bills.
That’s where you step in.
Without spending a penny, you can get contact numbers for people who can help your partner.
If debt is the issue, a company who offers consolidation loans could be the best way to go.
If they’ve fallen foul to bills caused because of some sort of accident, you could contact a lawyer who offers personal injury protection. At the very least, you could call insurance companies to secure some sort of financial return.
Related: Struggling With Money? It Might Be Time For A Lawyer
Help them develop a financial plan
While it isn’t always the case, the majority of couples have a saver and a spender.
We’re making assumptions here, but there’s a chance your partner isn’t all that careful with their money.
If they were, they may not have found themselves in a situation like this. There’s a decent chance, then, that you’re the saver in this relationship.
The next best thing you can do to help is to sit down and develop a financial plan with your partner. Sometimes, the sheer size of financial emergencies can overwhelm us.
If you sit down and talk things through, though, you may both be able to come up with repayment plans which shrink the problem down to size.
All without spending a single physical cent.
Related: Family Budget: How To Manage Your Household Expenses
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