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Financial matters are an ubiquitous aspect in
the life of a couple - no matter whether you are dating or married! Whether you
are planning vacations, looking to change jobs, or even considering welcoming a
baby into your family, it all comes down to whether you can afford it.
And, during rainy days, after an unexpected
expense, or after years of unhealthy spending habits, the financial stress can
accumulate and take a severe toll on the health of your relationship.
Fortunately, there is a lot that you can do to reduce the stress that derives
from money. We’ll look at everything you need to know below.
Start By Understanding The
Effects Of Financial Stress
The first step to take is understanding that,
in fact, financial stress has a profound impact on your relationship. According
to surveys, nearly 40% of couples report that the most stress on
their relationship derived from money-related matters. Look at how financial
stress and worries are impacting your married or dating life before creating an
action plan to boost your financial health.
Develop A Strategy To Build
Wealth With Your Partner
Building wealth alone and taking care of a
whole family financially can be a severe source of stress. However, remember
that, when you are a couple, you are never alone in these challenges! So, make
a plan to start investing in your future - even with a small budget -
by understanding each other’s goals, financial background, and spending habits
- which takes us to the next, important point: controlling the way you spend.
Have A Budget Plan That
Agrees With Your Spending Habits
The most common source of disagreement
between partners is spending habits - and over half 51% of people surveyed report
disagreements with their partner over shopping! It is important to keep in mind
that you and your partner are not the same person and, in turn, you may have
different ways of spending and investing your money.
Nonetheless, it is important that the habits
of one person don’t impact the health and happiness of the entire relationship!
To make sure that this won’t happen, make a plan with your other half and
decide on the goals to achieve together. Then, look at the ways you spend and
implement small, but sustainable changes. Consider even having a separate
account for personal spendings!
Explore Alternative Loan
Options If You Don’t Have An Established Credit History
Loans are important - no matter whether you
are starting a family-run business or you are thinking of buying the first
house. However, if you’ve never borrowed before or you experienced financial
difficulties in the past, you may not be able to access the funds needed
straight away. In this case, an excellent option to reduce the stress on your
relationship is to get a merchant account with no credit or look at the mortgage options
you have if you have a low credit score.
Financial Stress Is Stress:
Incorporate Stress Management Techniques
Lastly, don’t forget that financial stress is
stress. To relieve the effects of high levels of stress on your relationship -
including irritability and anxiety - implement some of the most efficient
stress-busting activities, including:
●
Meditation
●
Breathwork
●
Yoga
●
Tai chi
●
Physical activity
●
Open communication
Don’t forget that if you are struggling to
get out of a rough patch, a specialized mental health professional can help you
restore the wellbeing of your relationship.