Since money is one of the biggest issues of contention in a relationship, tackling household money issues may improve your relationship with your partner. In cases where the relationship is over, looking out how you can improve your financial situation may give you a better post-relationship quality of life and help you set the foundation needed to avoid the same issues in your next relationship.
1) Make an honest assessment of where you are today. You can’t combat a problem if you don’t know what the real problem is. Look at the world’s financial situation today. Banks may pass stress tests, but does that mean they are really healthy? Or are there still toxic loans out there that could trigger a collapse? And in your household? You may be making it day by day, but what if there were a medical emergency or someone lost their jobs? Could you manage? It may be tough to see the truth, but sometimes the truth hurts. Try to be one step ahead.
2) Have an honest discussion with you partner regarding the situation so that the two of you can work it out together. If you are single, of course you will develop a plan on your own. If you are a single parent, you may have to have a discussion with your children as well (depending on their age), explaining household finances. They can also contribute to a plan to control spending. Don’t start blaming anyone or attacking spending styles. Simply sit down and figure out how you are going to get your finances back on track. Once you’ve created the plan, stick to it. No cheating.
3) Realize that you may have to put yourself on a spending diet. Look at it as a challenge. Believe us, not only do people not need half the stuff they have, they don’t even use it. Learning how not to waste money can be truly liberating. See something in the store you want. Go home and wait a day before making the purchase. You may realize that you already have something similar or you may find that is just doesn’t look as enticing the next day.
4) Sell things that you don’t use. Have an item that you had to have 6 months ago that has been gathering dust ever since. Stop dusting it and sell it. Not only will it give you extra cash, but it will help you see that you really can live without “stuff”. it will also give you more space in the house. Use the money to pay off bills or put it into savings. Don’t go out and buy something else.
5) Resist temptation by staying away from the stores. For the shopaholics out there, it may be hard at first, but once you start discovering other activities shopping just to be shopping really will feel like eating greasy food after months of only eating healthy food.
6) When you do buy something that you truly need, make a smart choice. Most of the time it pays to buy quality.
- Hot Romance + Bad Finance = No Chance? (pastpresentfutureme.wordpress.com)