Man, I feel lucky that my wife is the complete opposite.
Runaway Debt
She is allergic to debt and always believed in saving money. I even feel luckier than she made me change the way how to view money because I used to have some of these red flags especially about even discussing about my money status. Now I help invest in the money we save and keep on seeing it grow. Nice post as usual Tina!! Aww, such nice words about your wife. Hey Tina, I got to know about your blog from my friend. First of all congratulations on completing your milestones for the the month of august. Being a blogger on almost similar lines, I under your hustle and butterfly effect wrt to publishing posts.
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Life Advice Personal Finance. They Treat Money as Power Some people let money go to their heads. They Spend with Wild Abandon Does your partner have champagne tastes but a beer budget? Comments 6 financial red flags. September 3, at September 3, at 4: September 5, at September 6, at 3: Want to start funding your IRA for your retirement? If you are worried of paying too much fees, then, don't fret. Motif's clear advantage over other brokerage companies is that it has minimal fees.
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Allan lives with his family in Maryland, USA. I will try to take your advices! Thank you for sharing it! And we all know that lying is one of the worst things you can do in relationship. I believe that what I have in this post can really be beneficial to a lot of people. A lot of people go in life without thinking where they are making mistakes in their finances and how these mistakes affect their relationship with their loved ones.
I hope a lot of people will read this because I believe this will help people understand those financial red flags. I have worked hard to be financially independent and to be able to afford the things that I dreamed for when I was a child, and I am not willing to let anyone drag me down from this position.
Couples have their own way of dealing with finances. As long as the couples deal with money issues positively, then, any method can be used. Very good points raised, Allan. I think one thing that could be added is if finances is not enough, and especially when both husband and wife already works, there may also be times when working more hours leads to less time being together. The stress that comes from the need and the lack of time together is a risk in a relationship. You are absolutely right. I believe the key is balance, that is, balance when it comes to money and balance in time.
My mom would always say that anything in excess is always bad. I also watched the Good Wife and thought the same thing — massive red flag. You need to have your eyes wide open when it comes to money. You are spot on.
Financial Red Flags to Watch for When Dating
I believe that there should always be a open dialogue between couple when it comes to money. Money can break a relationship. A prevention is better than a cure. Money is an important factor and there are financial red flags that we need to be aware of. We have to discuss financial issues, have some sort of agreement about how to spend, save and budget them. Totally agree with this.
I believe that lying and having different opinions are two major red flags that cause financial difficulties between couples. I liked that you identified the red flags. This can help a lot of relationships. I know a couple of people who are going through financial difficulties. As I observe them, I realized that there are commonalities among these couples in terms of red flags related to finance.
I realized that since I blog about personal finance, I decided to make a post about financial red flags. We could have been a lot more savvy with our spending of we had.
If you cannot compromise and get smart about your money together then I agree, some of those red flags are not worth it. You are absolutely true with your statement. My wife and I agree on almost everything about financial matters. For this reason, we were able to avoid these financial red flags.
Yes, money is important in any relationship. So, it is important to talk about it openly and positively. Open dialogue is key to almost everything. I believe in what you say, that is, it is important to be open and honest in a relationship. Since money is almost always a sensitive issue, couples need to make time to talk about money. This is a great post.
Past Bankruptcy/Foreclosure
Really flags up some things that you may not want to think about but are very important to remember. I agree with most of your points. Money miscommunication may sometimes signal more than just money problem or communication problem. What I do believe is that it is in the best of couples to sit down and communicate. Better communication can bring out the best out of couples. I think if your partner finds out that you have been lying about money then the trust is gone.
It is better to be open and honest. Money can be a sensitive issue and so does lying.
Financial Red Flags to Watch for When Dating
These are definite red flags! I dont think I have ever had to deal with any of these but I do have friends and family that have had financial issues and have done some of these things…. Great food for thought.
Good luck and I hope that you two become in one in terms of money aspect. Keeping communication open and honest is so important even when it comes to finances and money decisions. Thanks so much for you posts, they are a great reminder to stay on our path and have a healthy financial future! Student loan debt is not discharged during bankruptcy or nearly under any other circumstance.
A defaulted student loan will tank a credit score which means if will be that much more difficult if you want to buy a home with this person. Wages, tax refunds, and even Social Security payments can be garnished to repay student loans. Credit card debt is another gray area when considering a partner. There is a vast difference between someone having a few thousand dollars in credit card debt because they were using credit to fund essentials during a spate of unemployment and someone with tens of thousands of debt racked up because they like to act like a baller and pay for expensive dinners for their friends a couple of times a month.
The person working to pay them off may refuse but will likely explain why. The person who just ignores the problem and keeps spending wildly, will flat out refuse. About a million Americans file bankruptcy each year. More than half of those are due to medical expenses. So your honey might not be a profligate spender but a victim of the criminal cost of health care in America. What was the reason? How long ago was it? Between , the Dark Ages in terms of home foreclosures, ten million Americans lost their homes.
Dating in 2018: 5 huge financial red flags
A job loss can happen for reasons beyond our control; company-wide layoffs, the business folds entirely, the company moves to a place not all of the employees wish to live. Some people lose a job for reasons that should be well within their control too. Has this person been fired from multiple jobs? Is there a pattern; things start out well and then they start showing up late or calling in sick?