Couples are in crisis in the wake of the coronavirus pandemic, with many relationships stressed to the point of breaking from COVID-19 restrictions like sheltering in place and financial problems such as severe cash shortfalls resulting from being furloughed or unemployed. Even before the lockdown, couples were struggling with their approach to handling finances in the relationship.
According to a survey by Ramsay Solutions, conflicts over money are the second leading cause of divorce. Money taps into our sense of identity and emotions in ways that are very difficult to manage in relationships.
The following 3 tips will help you and your partner create financial harmony:
- Lose the notion of right and wrong: there are no right and wrong beliefs about money, just different attitudes and beliefs, and they all come from our individual experiences. To tell someone they’re wrong is telling them that your experiences are more valuable than theirs.
- Don’t use money as a weapon: don’t bring money into conflicts where it does not belong. If your partner is upset because you have not been spending time together, don’t say something like, “I’m busy working to pay off your bills.”
- Keep your money promises: This builds trust. If you say you are going to pay the cable bill this month, pay it. Even if you have to ask your spouse to lend you money. Pay the bill and the loan when you said you would.
Courageously faced, the bumps couples face on the road to financial well-being can pave a path to communication that will strengthen their bond and bring them closer together.