The Link Between Money And Relationships

money problems

Is there a link between money and love? For a long the longest time I use to believe two people could truly be happy together even if they were dirt poor. However as I get older my opinion is slowly starting to change. Financial problems can literally destroy a relationship. I am not saying money is the solution, but it certainly helps. Today’s article will discuss the importance of properly managing your finances in a relationship and where you can go for help if you have run out of options.

Money and Satisfaction

Texas Tech University conducted a study to test the effects of economic hardship on relationships and their findings were pretty interesting.  The study showed couples that were under one or more financial stresses (ie student loans or credit card bills) exhibited low levels of mental and physical satisfaction in their relationships. This dissatisfaction led to emotional stress, hostility, and communication problems with their spouse. In most cases, each partner blamed each other for their financial downfalls. The study also revealed that spending habits were the number one cause of financial hardships in a relationship.

More About Spending Habits

When couples share the same opinion on how money should be spent, they tend to prosper. On the contrary, couples with different views on acceptable spending behavior (ie a big spender vs cheap stake) tend to be a match for destruction.  Before deciding to tie the knot with someone make sure you have a deep discussion about spending habits and your personal expectations.

The Link Between Money And Communication

Let’s face it, money is not an easy topic to discuss with your significant other.  You may have come into the relationship or marriage with several undisclosed debts or financial hardships.  Once you are married your spouse’s debt becomes your debt. When you are married a minor problem such as an overdue cable bill can turn into a big deal very quickly.  According to Dr. Terri Orbuch, a sociology instructor Oakland University, financial arguments between two partners may not always be about the money itself, but rather other issues such as self-confidence and control. Therefore it is important to keep the lines of communication open with your spouse in order to know the true cause of your relationship problems.

The Even Split

Many married couples share income and divide bills straight down the middle. This strategy usually works well unless one partner makes significantly less than their significant other. One partner (usually the lower salaried spouse) tends to resent the other person for making them pay half when they make significantly less money.  In other cases, one spouse may spend the money in the couple’s joint account on unnecessary expenses without notifying their partner. In order to maintain a happy and healthy relationship, you must work together with your partner and keep them informed on all financial expenditures.

The Solution 

As previously discussed, debt and other financial problems can causes an enormous amount of stress on a relationship. Instead of struggling to make ends meet, you have to take action in order to ensure your relationship will survive. So what is the solution if you are in debt? Consider fast, safe and reliable payday loans. Now, you may be thinking, if I already owe money, why would I take out a loan? I will tell you why. Just because you are in debt does not mean your bills are going to wait for you to get caught up. Therefore, it is a better idea to do whatever you need to do to pay your current bills, than be in debt and also have your credit score damaged because you stopped paying your bills all together.

A pay day loan can buy you more time until you can figure things out.

In summary, debt and financial problems cause a huge strain on relationships. Just remember, you did not acquire all of your financial hardships overnight and you will not be able to pay off all your bills overnight as well. Instead of stressing every single day of your life until your debts are clear, consider getting a pay day loan to ease the burden until you can figure things out.