10 Financial Mistakes That Ruin Your Marriage
When two people get married there are many things that they need to do in order to live a happy and productive life together. One of the biggest challenges that many married couples face is working through financial issues. Bad credit can be ruin a marriage. So whether you are thinking about taking a loan, cash loans or looking into getting online loans, here are some mistakes to avoid to keep marital harmony.
- Staying Silent – One of the most important facets in a marriage is communication. This is especially true when it comes to finances. Be sure to talk with your spouse about major financial decisions and come to an agreement about them. Do not make big purchases without your spouse’s approval.
- Agreeing On Spending – Some purchases are necessary such as mortgages and auto title loans. Make sure that you and your spouse are in agreement about what is being purchased.
- Not Being On The Same Page – Married couples need to have similar financial goals in order to have marital bliss. If one person wants to save while the other wants to spend it can lead to many problems. Find some middle ground that will keep both spouses happy.
- Accumulating Debt – Even if both partners agree with a purchase it doesn’t always mean it is a good idea. Couples that have higher levels of debt have more stress and tension. Don’t take on more than you can handle.
- Not Being Honest – If one spouse spends money and then tries to hide it from the other spouse that can cause a lot of problems in a marriage. Always be honest about where the money is going no matter what.
- Not Sharing Right – When you get married you need to determine who is responsible for which bills and how the money will be utilized. Not having a solid plan, or assuming that one spouse will pay for all of the bills can lead to a lot of problems. Regardless of whether you have joint accounts or separate ones you need to know who is paying for what.
- Spending What You Don’t Have – Do not spend money that you don’t have. It is as simple as that. When one spouse continually spends excess amounts of money it puts a terrible strain on the marriage.
- Borrowing Money From Relatives – It is never a good idea to borrow money from family. It puts a strain on the spouse whose family has loaned the money and can cause marital rifts. It can also lead to uncomfortable family get togethers.
- Giving Money To Relatives – This is another issue that can cause problems between spouses. Lending money to family can cause problems and resentment with married couples. In order to maintain financial harmony it is best to avoid getting into this type of situation.
- Not Enjoying Money – It is very important for married couples to be able to enjoy their money together. Go out on a date. See a movie. Plan a vacation. Save for a special purchase. Using excess money to have fun and spend time together will help strengthen a marriage.