How would you feel if you’ve set clear financial goals with your partner and then later find out that your spouse, either intentionally or otherwise, has been taking actions in the opposite direction of your goals? You’d feel betrayed, let down, and angry that all of your efforts have been tossed aside so frivolously.
It’s a sad story that we’ve heard time and time again. One spouse is trying very hard to get their financial life back on track, while the other one is hiding a bunch of spending under the table. Then you spring them – a credit card is rejected, you open the mail to find overdue accounts – it results in a mountain of hurt feelings and can lead to heated arguments. These troubles can often result in divorce.
Recovering from financial infidelity can be hard, but not impossible. Both married and separated couples can benefit from seeking the advice of a trained professional, who can help them resolve their differences before litigation becomes the sole focus.
Here are some tips for mediating financial infidelity in your relationship:
1. Identify what each of your financial values and beliefs are;
2. Seek out a safe forum for each party to discuss the reasons for their action, including the driving force behind their financial problem;
3. Insist on full financial transparency, and devise a plan to encourage it so you can rebuild trust between the parties; and
4. Create an agreement to avoid future disputes over money.
Learn as much as you can from financial planners, money bloggers, etc, to create positive mindsets around finances so you will have a positive impact on the role money plays in your relationship. We have some great blogs focused on relationship finance that can be a starting point for working through your financial issues with your partner.
How do you talk to your partner about debt? Focuses on how do to express your debt journey in a positive way if that journey is stressful and you can’t find any positives to express?
Talking to your partner about debt Looks at how to have conversations about financial problems in a positive way when they can be some of the most stressful experiences a couple can face. Bring debts to a conversation can raise the tension bar a notch or two.
If you’re facing financial hardship we are here to talk about a solution. Call us on 1300 887 211 or Book a Free No Obligation Phone Consultation with our friendly team and we can discuss debt management options specially focused on your personal situation.