Financial Stress and your Marriage: 4 Tips to Weather the Financial Storm!
Financial stress is often labeled as one of the primary causes of divorce. Can you relate to this? You’re in an otherwise happy relationship when financial disaster strikes. Maybe you or your partner loses a job or your hit with a huge financial blow that exhausts any savings or financial windfall you have packed away. So how do you weather this financial disaster and emerge with your relationship still intact? Here are 4 tips that can help your relationship stay strong even in the face of overwhelming financial stress.
Tip #1: Communicate.
Just as with any other area of conflict in a relationship, you can’t solve it if you don’t talk about it! It does no one any good to stuff it away and not openly talk about it. Have an open discussion with your partner and set up some financial guidelines that you both agree on.
Tip #2: Develop a Plan.
When times are difficult financially, it’s a good idea to work together with your partner to develop a budget that you will both follow to get through the financially challenging times. Schedule regular times to revisit and make revisions if necessary.
Tip #3: Make financial responsibility a joint venture.
Be sure that both you and your partner share in the financial responsibilities of the household. When one partner solely handles all finances, resentment can build and only make matters worse. In a relationship, it’s best if both of you handle finances and share joint responsibility. Even if your husband works and you are a stay at home mom, both of you should work together to handle finances.
Tip #4: Build a Financial Windfall.
Remember the saying “An ounce of prevention is worth a pound of cure?” The idea here is to put back enough extra cash in reserve that you can easily weather such financial crises if they come your way again in the future. Just the fact that you have this extra cash put back can reduce a great deal of financial stress in a relationship.
By following these 4 tips, you and your partner can weather the storm of financial stress in your marriage or relationship and emerge stronger on the other side.
If your relationship is marred by financial stress and you feel like you can’t do it alone, check out how our trained counselors can help you put things back together with Marriage Counseling.