There’s the well-known saying, “money is the root of all evil.” As it turns out, money may also be the cause of many divorces. There are too many couples that do not have honest discussions regarding their finances. This results in resentment developing between the couple. When one person believes they are the one doing all the work and the other is spending all the money then the situation will only get worse. This is why you should confront any debts to save your marriage.
The following will help you reduce your debts to save your marriage:
Reveal Your Financial Obligations
It is only possible to achieve your goal of financial security as a couple when you both reveal your financial obligations. This requires revealing all of your financial obligations to each other. All of your loans, credit cards, and other monthly payments need to be collated together into a budget to fully understand what your total outgoings are for each month.
Once you have the full picture, you can work together to discover how to reduce the outstanding balances and save some money each month. This has to be done even if it may be a little embarrassing for some as it can reveal extravagant purchases from the past.
Identify and Focus on Your Goal
If a couple wants to get out of debt or save for a deposit for a new home, then they should focus on this goal. This would require living within their means. You may have to sell a fancy sports car or cancel the golf club membership. This is not about keeping up appearances; it is more about creating a solid future for your relationship. This is more important than attempting to impress others.
Plan for a Positive Future
Although your primary focus is to clear your debts and onto a sound financial footing, there’s nothing to stop you planning for a positive future. It could mean purchasing a home will need to wait for a year or two. During that time, you can clarify your wants and needs while investigating different locations and neighborhoods.
If you begin saving seriously, then maybe you could set up a vacation fund that will allow you to take a vacation to a destination on your shared bucket list. Having hope for a positive future will make all the hard work worthwhile.
Seek Professional Help
If you uncomfortable discussing these issues with your partner, then obviously there’s something else going on. This may it is necessary to seek professional help such as a couple’s counselor. There’s no shame in having an objective listener help you identify ways to improve how you communicate with each other.