Why is Financial Security Important in a Relationship

As far as relationships go, some people’s ultimate aim is the wedding day and honeymoon. However, many people think that the feeling of safety and security should be more important – simply because a wedding day is essentially just another day. Unfortunately, not the honeymoon nor wedding ensures a safe and happy partnership. You need to feel safe in your relationship at all times, both financially and otherwise.

Many people are in financially unstable relationships. To what extent do you find this to be true for you? Don’t stress if you or your significant other are experiencing anxiety with money. Many different actions may be taken to improve one’s sense of security in a relationship.

Where love and money meet in the world of dating

It’s common knowledge that financially successful couples tend to stay together.

If you’re in a relationship, it’s only natural to wonder about your date’s financial stability at some point. People who know how to deal with their money will automatically attract better dating possibilities since wealth is still one of the key attractors in our culture. Nobody knows this better than the people who are interested in sugar dating. Nowadays, many rich men go out and seek beautiful women to date and support financially. It’s a win-win situation!

On the dating scene, therefore, it’s better to have more money than less.

The same qualities that attract many people may also be the downfall of a relationship. After fundamental incompatibility and adultery, “money concerns” are the third most common reason for divorce. We can then only conclude that many couples lack the communication skills essential to overcome financial issues in their marriage.

You should feel like equals in a relationship

In relationships, all should feel valued and respected. It’s commonly understood that “equal” implies both partners should contribute equally to the household budget, but in practice, it’s not always attainable or realistic. What if one person in the relationship earns much more than the other?

If an even split doesn’t make sense for you and you’re both fine with a different arrangement, there’s no need to make you feel like you have to push things in your relationship. After all, every relationship is unique.

When one partner is unable to financially support the other but does so nevertheless, financial disparities may become a source of contention. Clarifying each person’s role in the relationship is crucial to avoiding feelings of exploitation or inadequacy.

How to divide your finances in a relationship

Most people agree that at the beginning of a relationship, both partners should contribute equally to the upkeep of the household. However, there are also those that think the person with the higher income should foot the bill for most of the couple’s expenses. Therefore, it’s important to talk with your loved one about how you’ll split the expenses in your new household.

You must have comparable habits when it comes to money

It’s far simpler to put effort into determining if a possible spouse is someone you can trust with money rather than attempting to maintain a relationship in which one partner continually monitors the other’s spending habits. It’s important to check that you and your partner can handle ordinary financial situations with maturity, respect, and open communication and that you have similar financial priorities and savings objectives.

Having a fundamental mismatch in priorities isn’t healthy and isn’t sustainable, like in the case when one partner wishes to save for a new dining room table while the other regularly or semi-regularly spends $500 on an impulsive night out with friends.

If you and your spouse share living expenses, the way each of you spends money matters and will always have an effect on the other. While it’s unreasonable to expect your spouse to consult you on every financial decision, you should have faith that they won’t waste the hard-earned cash on anything unnecessary.

Have some rules

You need financial ground rules when you don’t have the same philosophy about money. One option is to avoid mixing financial resources altogether by maintaining separate bank accounts. Alternatively, you might open a single joint account, and each person would put in the percentage they were to pay toward their half of the household expenses. Having mutually agreeable financial limits in place might help keep couples from constantly butting heads.

Communicate about finances

If you don’t keep an eye on your finances, you’ll find yourself in a position of competition with one another. A strong foundation for every relationship is mutual respect and open lines of communication. If you and your partner are planning to purchase a commercial property, such as an office building or a house, you should help your partner find a business mortgage broker instead of becoming angry. Pay close attention to the details, and make sure that you and your partner both have a firm grasp of the financial situation.

When you argue about finances, it’s never only about that

Remember that money was designed to be a symbol of worth and that the taboos and beliefs we have about it have nothing to do with actual monetary value. Society also has a role in shaping symbols such as money. Status, convenience, independence, dependency, trust, loyalty, betrayal, equity, and justice are all very intertwined with money.

The emotions we experience in relation to our self-esteem and our sense of control, or lack thereof, are inextricably linked to our financial situation. Money might be seen as evidence that we are doing something right. Furthermore, some people may see it as proof that they’re worth more as a person. Whereas when we’re financially strapped, it might seem like we’ve failed at life itself and that there’s no way to get out of the hole we’ve dug for ourselves. ‍

The former paragraphs turn from theory to practice once the concept of money enters our relationships. Sadly, there’s no way to separate ourselves from our financial situations, as this is another aspect of our entire being. Therefore, when you start arguing with your partner about money, consider the underlying causes. Are your values not as compatible as you thought after all?

If your partner has more than one credit card – run

On the next romantic date you two go on, keep an eye out for your date’s wallet. If you see a stack of credit cards, that’s cause for concern. Your partner may have a spending issue if they have more than one credit card.

However, some people benefit from having more than one credit card because they can get cash back or travel rewards. Having said that, multiple credit cards may be a red flag pointing to credit card abuse, which may have serious consequences. When interest rates are over 20%, which is highly common, it can be very expensive to pay back the resulting debt.

It’s not easy to bring up money talk in any setting, but it’s more awkward in a new relationship or when dating. However, this doesn’t mean that financial stability isn’t important in relationships. Talking about money is vital at any stage of a romantic relationship.

Carolin Petterson

Carolin Petterson is a businesswoman and content marketer with years of experience under her belt. She has had the opportunity to contribute to a number of popular business and marketing websites.

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