• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Services
    • Debt Settlement
    • Debt Relief Benefits
    • Qualifications
    • Is Debt Settlement Right For Me?
    • Debt Help By State
    • Debt Relief FAQs
      • How Debt Relief Affects Your Credit Score
    • Free Budget Planner Worksheets
    • Free Debt Calculator
  • Options
    • Debt Relief
    • Bankruptcy
    • Credit Card Debt
    • Debt Consolidation
  • About Us
    • Who Is National Debt Relief?
    • Accreditations
    • Proven Results – Debt Settlement Letters
  • Contact Us
    • Apply Now
    • Contact Us
  • Client Login
  • Careers
HomeBlog BudgetingHow To Prevent Money From Destroying Your Marriage
Video Transcript

Free Debt Relief Quote

  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

How To Prevent Money From Destroying Your Marriage

July 15, 2015 by National Debt Relief

Tweet
Share3
Pin2
Share2
Reddit
7 Shares

Studio shot of a young couple fightingSome surveys have shown that the number two reason for marriage to break up is annoying habits. And the number one reason? It’s money issues. In fact, it easily beats out annoying habits. A study done by the Institute for Divorce Financial Analysis found that money problems were responsible for 22% of all divorces. This makes it the third leading cause of divorce. If you find that you and your significant other fight regularly over money this would certainly be an alarming statistic. However, money doesn’t have to lead to divorce. There are things you could do to keep your finances from destroying your relationship whether you’re about to say “I do” or thinking “I don’t want to do this anymore.”

Reveal your demons

Regardless of how uncomfortable it might feel you need to disclose your financial situation with your significant other before getting married. This means revealing any outstanding debts, income sources, loans, investments and any other financial obligations or assets. And of course if you are already married and withholding this kind of information, it’s time to practice full disclosure.

Don’t spend more on your marriage than you can afford

One of the biggest mistakes couples make is setting themselves up for disaster by spending too much on their weddings. Believe it or not, a wedding costs on the average more than $26,000 and if you live in a big metropolitan area it can be two or three times that much. Since the majority of couples just starting out can’t afford to pay cash for their weddings they put it on their credit cards. This means going into debt for a one-day celebration. This can put them in a situation where they’re drowning in debt when just starting out life together. If you’re short of cash you don’t need to forgo your wedding festivities but you should do something smaller or find ways to make the wedding more affordable. Then stage a really big party for your fifth or 10th anniversary when your finances sfould be much better.

Understand your spouse’s money mindset

The author, Matt Bell, who wrote the book Money and Marriage says that fights about money are often not really about money at all. They’re because of a difference in mindsets. For example, one of the two of you may feel their partner is spending too much but the issue may not be that they can’t afford it. It could be something deeper such as a real fear that they won’t be able to pay their bills in the future. Michelle Perry Higgins, who has written several books on finances, says it’s important to understand how your spouse feels about money and how they were raised around it. Were your partner’s parents frugal or big spenders? Was your spouse required to live on a budget? Was money talked about or was the subject taboo? Do you know your spouse’s biggest fear about your finances? The answers to these questions all play into a marriage and how each partner treats money. If you have a problem discussing these things with your spouse, you might take an online quiz together. One of the best of these is the quiz on Money Harmony. It’s free and will help you determine whether you’re a spender, hoarder, avoider, money monk or an amasser. A test like this can be a fun way to get started talking about money and can add some levity to what otherwise might be a very tense topic.

Make sure you have the same goals

As they say, life happens, times goes by and peoples’ financial priorities and expectations can change. Trouble happens when you and your significant other forget to check to make sure you’re working on the same goals. It’s a good idea to sit down once a year and talk about what it is you’re working towards. You might find that your goal is to buy a vacation home while your spouse’s is to pay off debt. It’s especially important to have the same goals if only one of you generates the income. What sometimes happens is that the non-working spouse feels guilty about not making any financial contributions or the working one is resentful because he or she feels their money isn’t being spent wisely. It can be helpful if the non-working partner finds a way to earn some income on the side even if it’s not much. This could be anything from having a garage sale to selling items on eBay or being an online juror. The amount of money doesn’t really matter. What matters is that when the non-working spouse starts to earn some money she or he will feel more powerful.

Use the awful “B word”

The cold, hard truth is that you need to have a household budget. It’s the only way to keep control of your money. While this can feel mind numbing there are significant benefits to having one. One of the most important of these is that it prevents the marital turbulence that can happen when one or both of you is in the dark about how your money is being spent. The only good news about the “B word” is that it’s now much easier thanks to technology. There are a huge number of online apps and tools that will track your spending for you. Mint is one of the most popular of these. It will track your spending, help you create a budget and keep track of your accounts and transactions so you can see exactly what you’re doing. It will also categorize your spending to give you a better idea of where your money is going. If you’re interested in learning more about Mint here’s a tutorial that will help you better understand how it works and what it could do for you,

There are many other great programs and websites designed to help you track and budget your spending so you might want to do a little research to find which one would be the best for you.

Don’t keep secrets

Possibly the fastest track to marital mayhem is when one spouse keeps secrets from the other. And despite what you might think this is not uncommon. About 7% of our country’s population or around 6 million consumers have financial accounts they’ve concealed from their spouses or significant others, which includes credit cards, checking accounts and savings accounts. And according to a poll done by CreditCards.com almost 20% of those surveyed have spent $500 or more without ever telling their partners. What often happens when one partner discovers that the other is hiding money or debt, war breaks out in the marriage. The website Moneysupermarket.com did a survey that found one in 10 people said their breakup or divorce was because of secret credit card purchases.

Smiling couple with laptopRemember the golden rule

It may seem obvious that you should treat your spouse as you would want him or her to treat you. Unfortunately, it’s something that a lot of couples don’t remember to do, especially the longer they’re married. For example, there is the issue of how to argue about money. It might be okay to complain about something that your partner or spouse is doing but it’s not acceptable to use words that are patronizing or contemptuous. You should also not use negative labels like “irresponsible” to describe the other person’s behavior. Always keep in mind the old saying that it’s okay to hate the play but not the player. No matter how serious the disagreement becomes, try your best to stay civil and courteous. This is a much faster track to reaching agreement then would be a screaming fit.

Tweet
Share3
Pin2
Share2
Reddit
7 Shares

Do you qualify for debt consolidation?

National Debt Relief

National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

Follow National Debt Relief: Facebook Twitter Instagram Linkedin

Filed Under: Budgeting, Personal Finance Tagged With: money and marriage, personal finance, prevent money from destroying marriage

Primary Sidebar

Trusted By Our Clients

Excellent

Rated Five Stars Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

based on 12,550 REVIEWS

"Best decision I've ever made!"

They really care about "you" and making your life easier. They answer all of your questions and are very detailed.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Kolbie P.

"Saved me from drowning in the debt."

I was up to my eyeballs in debt and National Debt Relief saved me from drowning in the debt.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Joanna W.
Canal Winchester, OH

"Helped me settle my debts that were choking me."

National Debt Relief helped me settle my debts that were choking me.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Bobbie A.
Charlotte, MI

"Taken a big weight off of my shoulders."

National Debt Relief has taken a big weight off of my shoulders.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Richard D.
Piffard, NY

"Stopped all collection calls."

National Debt Relief stopped all collection calls and are working with my creditors to settle my debts.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Patricia G.
Oran, MO

"Now I can see a light at the end of the tunnel finally."

I was in a tough spot, financially and emotionally. Now I can see a light at the end of the tunnel finally.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Susan W.
Valparaiso, IN

"I'm sleeping better knowing they are helping me to eliminate my debt."

I'm sleeping better knowing National Debt Relief is helping me to eliminate my debt.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Jodi W.
Springfield, OH
Trust Pilot Reviews

Free Debt Relief Quote

By submitting, you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls or text/SMS messages). Msg. and data rates apply. You are not required to opt in as a condition of purchase.

The sooner you call,
the sooner we can help:

800-300-9550

Recent Posts

  • What Trump’s New Policies Mean For Payday Loans
  • Here’s Why You Need To File Your Taxes Early
  • Here Are The 6 Signs Your Future Spouse Is Bad With Money
  • How Will You Fall In The New 2019 Tax Brackets?
  • 5 Ways You Can Convince Your Spouse To Save Money Together
  • 6 Super Simple Tips to Get You Ready for Tax Season
  • 3 Strategies For Home Buying With Student Loan Debt
  • How To Strengthen Your Finances Before Another Recession
  • How To Get Started With Investing
  • Learn How To Send A Cease and Desist Letter To Creditors

 

FAQs about debt relief

AFCC disclosure

National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Trust Pilot
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms Of Site
  • Disclaimer
  • Sitemap

© 2019, National Debt Relief, All Rights Reserved.

Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes.
*Clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.