According to Business Wire, 73% of American relationships suffer from tensions and intimacy problems due to financial issues. You know what they say when poverty comes in at the door, love flies out of the window.
Dealing with financial stress can be difficult; it requires total commitment from you and your partner to make things better. Here are some ways you can manage financial stress in a relationship.
Communicate with your partner
Communication is key to a healthy and stress-free relationship. When suffering from stress, it’s time to support and understand each other. To move forward, communicate with your partner openly and honestly. Don’t try to avoid conflict by brushing it under the rug; it’ll eventually resurface in unhealthy ways, damaging your relationship.
When it comes to financial decisions that impact both partners, learn to come together and healthily manage these. Avoid keeping any secrets when it comes to money and finances.
Stick to your budget
Setting a budget for your monthly expenses is vital to avoid any financial troubles down the road. Evaluate your lifestyle, choices, and economic goals before you set out a financial plan. It would help if you were realistic regarding your spending limit.
If things get out of hand or either of you goes overboard with their spending, don’t go around pointing fingers. It’s not healthy for your relationship; instead talk about the situation at hand and work toward rectifying it.
Revaluate your priorities and values
When it comes to planning and sticking to a budget, evaluate your priorities. Think about the necessary expenses. Set short- and long-term goals that you two can achieve together.
Utilities, groceries, and paying off your debts should be your top priorities. If things aren’t looking good financially, avoid frivolous spending. Value communication, understanding, and love over materialistic things.
If financial issues are a common occurrence in your life and relationship, consider saving up to relieve stress when bad times hit. It doesn’t have to be a lot, but every penny counts. It’s nice to have a safety net to fall back on when things are tough. If you don’t spend your savings during tough times, you might be able to afford a good retirement plan down the road or pass it on to your kids.
Lastly, if relationship issues persist, consider getting professional help. Your issues might be linked to other problems, and only a professional can help you uncover those.
If you’re looking for relationship and marriage counseling in Birmingham, Alabama, reach out to Dr. Myers.
David Myers is a licensed and experienced counselor and therapist dedicated to providing solace and comfort to patients suffering from mental and marital issues.