Is Debt affecting your relationship?

Then here is some help so that your debt won't keep you a apart .There is nothing that affects a marriage relationship more like money and when things get tough as they are now money can quickly bring a  seemingly happy marriage to its knees. 

And while financial infidelity is never good it is the worst thing you can do to your relationship now.

Let me explain, you have grown accustom to earning and spending your money the way you felt appropriate. He pays his share of the household bills and you paid yours. But now things have changed, your income is not as stable as it used to be and so you aren't able to make the contribution to the household as you should because those consumer loans that you got without telling him are taking more of your salary to service. And now he wants to know what going ...

While this may not lead to the dissolution of your marriage it could place a tremendous strains on your relationship and a damper on your love life, as debt is considered a leading cause of family conflict.

This is why it is so important that you and your partner consider taking the following actions before your financial infidelity catches up with you.

1. Talk about it!

   There is no way of dealing with the issue without confronting it so you need to have a money (debt) talk.

2. Get a plan to pay it off! 

   Now that you have talked about it you need to come up with a plan to pay off the debts as soon as possible. So begin by determining how much you and put in place a plan to effectively pay it off.




Stop Borrowing.

Agree that you will stop borrowing and that no purchase will be made unless you have the money to afford them.

3. Use cash Only.

   Consider making cash only purchases or at a minimum to maintain a relatively low monthly balance on a credit card.  * Your goal should be to pay off your credit card every month.

4. Spend less than you earn.

   You need to decide to stop spending more than your monthly income.

5. Save!

   Start building a peace of mind account that will enable you to take care of those emergencies that will definitely happen. And set a minimum balance for this account e.g $2,000.00. And continue to save until it is equal to 3 month income.  

6. Get Insurance.

   75% of families are either under insured or not insured. So be sure that you and your spouse have adequate life and medical insurance. It is your safe guard against the financial shocks of death or sickness. And  the one thing that you should ensure that you have.

7. Be Faithful.

   Congratulation, you have made it this far so don't squander the trust you have just build by being unfaithful.