Money they say is good but also the source of all evil. We’ve heard of and have even seen for ourselves the evil things people do just to acquire money.<\/p>\n
Marriage on the other hand, is said to be a life long journey which needs to be properly planned.<\/p>\n
But at the height of wedding season, no one wants to think about divorce.<\/p>\n
However, some trouble starts early \u2014 especially when it comes to money.
\nThe leading cause of stress in a relationship is finances, according to a study by SunTrust Bank. The research found that 35 percent of people named money as the primary trouble spot with their partner.<\/p>\n
There are certain issues, in particular, that most commonly doom a relationship, according to Jacqueline Newman, the managing partner of Berkman Bottger Newman & Rodd in New York City.<\/p>\n
It may seem harmless at first, but keeping a savings account or stash of cash hidden from your partner can be your downfall, once your significant other catches on.<\/p>\n
\u201cThey find out and then trust is destroyed,\u201d Newman said.<\/p>\n
Still, most people are guilty to some extent. In 2 out of every 5 couples, one spouse admits to lying to his or her partner about money, according to a 2018 survey by the National Endowment for Financial Education. In addition, 75 percent of those surveyed said financial deception has adversely affected their relationships.<\/p>\n
If that\u2019s an issue, Newman advises couples to agree to keep some separate spending money in their budget so that each person can splurge without having to justify the expense to the partner.<\/p>\n
Worse than stashing cash, is keeping debt underwraps, said Newman. \u201cNot only is it a lie, but if there is less money, and you are not as secure as you once were, there\u2019s a lot of anger.\u201d<\/p>\n
About 31 percent of people said keeping credit cards and other accounts from a partner is worse than physical infidelity, according to a recent report from CreditCards.com.<\/p>\n
Here\u2019s when it pays to have an honest conversation about what you have and what you owe, Newman said. \u201cGet on the same page before trouble brews.\u201d<\/p>\n
It\u2019s a classic relationship quandary but if one of you is inherently a saver and the other a spender, conflict will likely develop without an understanding.<\/p>\n
\u201cThis happens more when one person earns more than the other,\u201d Newman said. \u201cThe earner resents the spender, that\u2019s your stereotypical cliche.\u201d<\/p>\n
To ease the stress of not seeing eye-to-eye on spending, agree to a certain level of saving, such as 10 percent to 20 percent of your combined income, Newman suggests. \u201cIf that threshold is being met, then the overspending may not be an issue.\u201d<\/p>\n
4. Under-spending<\/b><\/p>\n
On the flip side, if one person in the relationship is too tight with the purse strings, problems can arise just the same. \u201cIt can be embarrassing in social situations,\u201d Newman said, and \u201cit can become a very big issue.\u201d<\/p>\n
In this case, it may help to consult a financial advisor or money coach to weigh in and come up with a budget that works for your family.<\/p>\n
In extreme situations, disputes over money are a battle for power, which is more often the case in very traditional household situations, Newman said.<\/p>\n
Though traditional gender roles are changing, financial advisors say, many couples still adhere to them, with men generally taking the lead on finances. If the other person is left purposefully in the dark and uncomfortable with that, it\u2019s a problem, she said.<\/p>\n
\u201cAn allowance can be a budgeting tool but if it\u2019s used as a method of control that can quickly destroy a marriage,\u201d Newman said.<\/p>\n
In each case, whether it applies to your own relationship or not, start a conversation about what money means to you and your aspirations for the future, Newman said.<\/p>\n
\u201cMoney isn\u2019t just about buying milk; it represents safety and long-term goals,” she said.<\/p>\n
Credit: Graphic.com.gh<\/p>\n","protected":false},"excerpt":{"rendered":"
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