9 Ways To Avoid Financial Infidelity

The US divorce rate among young people under 30 years has been dropping to below 50% since the early 1990s. However, that may be deceiving.

Total divorce rates may be higher, closer to 53%, according to a study by sociology professor Philip Cohen. Older couples are quitting their marriages more than previously.

Money is the number one trouble spot among couples according to 35% of people surveyed in the SunTrust Bank study. Most conflicts about finances are the driving force in most divorces.

Few topics are more uncomfortable to talk about than money. Sex conversations are comparatively easy. Yet, avoiding the conversation about finances because it is challenging is foolhardy.

1. Spend Less Than Your Combined Income

To spend less than you earn is easier said than done. If you are paying more, then you are relying on your credit cards or loans. Put yourself and your spouse on a limit that you both agree to, which coincides with your targeted budget goals.

Consider going to a financial advisor or planner to help you develop your plan more aptly and become more successful financially and in your relationship.

2. Long Term Financial Planning

Having the necessary financial skills is essential for everyone for day-to-day transactions as well as long-term planning. Take a workshop, read personal finance blogs, listen to podcasts, YouTube videos, and TED Talks.

3. Strengthen Your Financial Skills

No one enjoys confrontation, particularly about money. However, when we have financial issues, we often have battles. The truth is that our lives revolve around money.

4. Be Happy With Your Partner Or Go For Help

Let’s make a pact to talk about money more freely and discuss financial goals together. You will be happier with your partner if you can plan together. Sometimes you need to go for help financially. If you can’t communicate honestly, consider a marriage counselor.

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