The Impact of Finances in Relationships
It takes more than romantic gestures to develop a relationship and share a life with someone. When you are in a committed relationship, you are also creating a financial partnership. How each partner manages their finances may have an impact on every aspect of a couple’s lives, including whether or not they will be able to afford to have children, the type of property they can afford to buy, and how comfortable their retirement will be.
Financial Red Flags in A Relationship
- The subject of money is taboo with your partner
It is hard to have a conversation with your partner about money issues especially if you aren’t quite where you want to be financially, listing your spending patterns, debt, credit score, and financial aspirations may feel embarrassing and vulnerable.
- Your partner has excessive financial influence over you
Nobody likes being told what to do or having the impression that their partner doesn’t respect their decisions. Therefore, having the impression that your relationship is keeping you from getting what you want ultimately results in serious issues. Most domestic violence instances involve financial abuse, which frequently involves excessive control over a partner’s finances.
- The financial priorities of your partner do not match yours
If your financial priorities and expectations for your financial future is not aligned, which will undoubtedly cause problems down the line, and possibly even cause grief.
How to respond to financial warning signs in a relationship?
- Have a conversation with your partner
- Seek professional help
- Know when to walk away
- You deserve to be in a relationship that respects each other’s financial well-being, is based on shared values, and prioritizes your entire well-being. Even though it could be extremely difficult, walking away is a method to safeguard your future while also treating yourself with respect.