Debt Confessions: How to Talk About Money with Your Partner

Talking with Your Partner About Money & Debt Issues

According to a recent survey, a lot of Canadians are hiding issues with their finances from their partner.

This includes extensive levels of debt and it’s not hard to understand why.

Debt is a serious issue and with it comes a great number of different emotions including shame.

However, hiding the issue can cause money problems to get worse.

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So, you need to make sure that you know how to get these problems out in the open.

Remember, a problem shared will always ultimately be a problem halved.

You need to make sure that you are being open and honest with one another.

It’s important that you understand the financial goals of your partner and they understand yours.

You also need to be aware of the challenges blocking you from reaching these potential goals.

It’s About Trust

When you’re in a relationship, it’s not just about trusting someone with your heart.

You need to make sure that you trust them with every aspect of your life and that does include finances.

You need to make sure that you feel happy with them having your financial details and potentially being able to access your accounts.

This means that you have to be on the same page when it comes to finances.

You need to discuss this with one another quite often and decide how much you should be spending and how much you want to save.

Remember, this should always be based on those goals we mentioned above.

Is Someone Taking Charge?

Sometimes it can be useful for one person to take charge but you can also think about sharing the responsibilities equally between the two of you.

Particularly when it comes to managing the money.

You should make sure that each of you knows how to manage different tasks and stay on track with your finances.

At first, it can be quite difficult to work together with financial goals and targets.

You won’t start off on the same page.

But with a little work and a lot of willpower you are going to be able to weather the storm.

Again this could involve one person leading at least at the first.

Be SMART

Finally, you need to make sure that you are staying smart with your financial goals.

This means that your goals should be specifc, measurable, achievable, realistic and timely.

Do this and you will always stay on the right track with your finances.

Find Out More Now

Are you struggling with debt and looking for a way out?

There are numerous debt recovery options and we can help you make the right choice.

We have been operating on the market for years and helped countless Canadians escape their debt.

That’s why we’re confident we can help you too.

Get in touch today and a friendly member of our team will be happy to assist you.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
How to Amend a Consumer Proposal
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
Consumer Proposal Eligibility
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?

Canadian Bankruptcies

How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?

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