When your Partner is bad with Money


Handling money is a skill. Some people are good at it. They have a budget all written out. Their planner or calendar has what to pay and when. They even have a retirement plan in place. Others are not so good at managing their finances. They pay late, incurring late fees. They’ve hurt their credit. They go on shopping sprees or can’t resist impulse buys. But what happens when your romantic partner is the one who is bad with money? It may be fine if you live in separate places and have separate finances, but warning bells go off when the relationship gets more serious. Bad credit can affect important options for the future such as buying a house, financing a car, getting a better job and so on. This could truly inhibit life goals. The number one issue that couples fight about is money (yourtango.com). Financial worries put strain on a relationship. So what can you do if your partner is bad with money? Turns out there are a lot of things you can do.

First, evaluate how you spend money. Are you a free spender? Do you hide things in the closet that you’ve bought out of guilt? Are you a miser or prudent and sensible when it comes to managing money? Next, evaluate who your partner is. Some people would rather live in the moment while others save for important moments in life such as college or retirement. If you and your partner’s money saving styles are in conflict, have a heart-to-heart about it. Make sure it is a conversation with no judgment, only a pointing out of certain behavior and how it effects the relationship. If one person is being too tight with money, and the other too loose, a compromise can be reached. A sensible budget should be drawn up with discretionary spending for each party and what each party will equitably contribute to the bills and savings. Negotiation, patience, encouragement and rule making are key to success. If one strays from their promise, one should only need reminding of the budget and their agreement. If there is a compulsion which no amount of discussion has curbed, seek the advice of a couple’s counselor, or perhaps the party who has the compulsion should seek counseling, whatever you decide together is best.

Was this tip helpful? Why not share it?
This entry was posted in Financial, General, Marriage Obstacles, Relationship, Strategy and tagged , , , , , , by Tipsofdivorce Team. Bookmark the permalink.

About Tipsofdivorce Team

Tips of Divorce articles are written by our expert team consisting of a recent divorcee, the creator of the website, a lawyer, a journalist, and content managers who edit and publish the articles. All contributors to this site have been impacted by divorce in their family and/or social lives. Our writers come from a wide array of backgrounds to give insights not only into life during and after divorce, but also married life, being a child of divorce, handling the legal aspects of divorce, dating and cohabitating, and more! Divorce has become so commonplace that it's difficult to find anyone who hasn't been affected by it in some way. In fact, recent studies show that many young people avoid marriage out of fear of getting divorced down the line. Divorce truly has an impact on society as a whole, not only the individuals who are directly experiencing it. This is why we encourage our followers to contribute personal insights, stories, and thoughts regarding divorce so that we can gather knowledge and wisdom from various perspectives to be used for future tips to help others.

One thought on “When your Partner is bad with Money

  1. Pingback: Secrets that can Kill Your Relationship - Tips of Divorce

Leave a Reply