Money is a feminist issue — and yet, women are still reluctant to talk about it. According to a Today's topic: Money red flags in relationships. You may be However, you may be dating someone who doesn't budget. Instead. Here's how to know which money issues will affect your bottom line. 6 Financial Red Flags That Could Test Your Relationship Talk to your partner about your concerns; if you can see things from their side and agree there's not cause for concern, If you can establish a new normal and move on, great. 24 Relationship Red Flags You Should Never Ignore They rush a new relationship forward too quickly. Lots of couples have totally different concepts of money and find ways to compromise, but it's SO important to be.
One of the truths about relationships is that a good relationship is not just about love, trust, commitment, and all those other words with big meanings.
All I am saying is that it is part of a relationship. According to a study by Jeffrey Dew of Utah State University, money disputes were considered to be the best harbingers of divorce. A lot of people say that prevention is better than a cure. The same thing goes with relationship and money. Whether you are going into a relationship or are already in one, there are red flags in finances that you and your loved one need to be aware of.
Often times, many people tend to overlook or try to not to understand their situations about money.
By the time they try to solve the problems, these dilemmas have already grown bigger that couples can no longer find ways to solve them. Financial Red Flags in a Relationship It is always best to start addressing the red flags in a relationship before they get worse and get out of control.
But before you address those red flags, you both have to know what they are. Here are some of the common but overlooked signs that you both need to be aware of.
9 Financial Red Flags In A Relationship - The Practical Saver
Not talking about money One of the red flags in a relationship is when couples are not talking about money. For those who are getting ready to enter a marriage or already in one, there should have been the money talk and a lot of it.
Money talk is as personal as it gets and exactly the same thing with going into a marriage or being in a marriage. In a relationship, there should always be transparency especially when it comes to finances. If you find out that your loved one filed for bankruptcy in the past, you may find the need to ask why it happened.
After all, you need to know almost anything and everything about your loved one.
Your knowledge about bankruptcy can help you both in figuring out a solution as soon as the signs leading to bankruptcy exist. Lying Lying is never a good practice in a relationship.
9 Financial Red Flags in a Relationship
Lying destroys all the foundation of trust and commitment. If you find out that your loved one is lying about his or her personal finances, then, you need to sit down, have a talk, and see if he or she is hiding more than just the finances.
Find out why your better half is lying. Although lying is not a good practice in any relationship, find out what the root problem is so you can fully understand the gravity of the situation.
For me, lying is one of the red flags in a relationship. For me, understanding these reasons is key before making any decisions on the directions of your relationship with your loved one. Want to create and monetize your blog?
I took a chance and it paid off. Having different attitudes toward money One of the red flags in a relationship is when you and your loved one have different attitudes towards money. Different attitudes toward money can cause friction and endless arguments. If your better half is a lavish spender and you are a massive saver, then, both of you may find yourselves arguing over a few dollars here and there. On the other hand, the spender, who is your better half, will argue that the money spent is the money from working hard at work and that he or she deserves a reward for doing just that.
Although the reasons may be both valid, the differences in attitudes can or will interpret the reasons both of you have in a wrong way. What you both need is to make sure that you are on the same page.
According to a study authored by Carolyn Washburn and Darlene Christensen, understanding how partners view and value money can begin to open the lines of communication and lessen the conflicts. Hiding from your loved one Ever found out that your loved one has secret bank accounts or stash of money hidden somewhere in your house? If yes, this may be a red flag as well. Just the other day, I was watching The Good Wife.
In one of the scenes Mrs. Florrick, the mother of Gov.
This scene stuck in my head for some reason. I believe that this is one of the red flags in a relationship. I wonder why a number of people hide money from their loved ones.
Seven Financial Relationship Red Flags
But some things can be dangerous to overlook. Please note; these are not questions for first dates! Or for those you are planning just to date casually. A lot of student loans have manageable interest rates. Seven million of us though, have student loans in default. This is a much more serious problem with long-term consequences.
Student loan debt is not discharged during bankruptcy or nearly under any other circumstance. A defaulted student loan will tank a credit score which means if will be that much more difficult if you want to buy a home with this person.
Wages, tax refunds, and even Social Security payments can be garnished to repay student loans. Credit card debt is another gray area when considering a partner. There is a vast difference between someone having a few thousand dollars in credit card debt because they were using credit to fund essentials during a spate of unemployment and someone with tens of thousands of debt racked up because they like to act like a baller and pay for expensive dinners for their friends a couple of times a month.
The person working to pay them off may refuse but will likely explain why. The person who just ignores the problem and keeps spending wildly, will flat out refuse.
More than half of those are due to medical expenses. So your honey might not be a profligate spender but a victim of the criminal cost of health care in America.
What was the reason? How long ago was it? Betweenthe Dark Ages in terms of home foreclosures, ten million Americans lost their homes. Get our best money lessons: A job loss can happen for reasons beyond our control; company-wide layoffs, the business folds entirely, the company moves to a place not all of the employees wish to live.
Some people lose a job for reasons that should be well within their control too. Has this person been fired from multiple jobs? Is there a pattern; things start out well and then they start showing up late or calling in sick?