It has been widely publicized that most marriages break up due to issues over money. If you or your spouse has committed financial infidelity and been caught, there is a high likelihood that you relationship will suffer in several areas. If you and your spouse are in the throes of dealing with a major money issue that has caused a riff, here are some ways to repair your finances and your relationship.
Understand the reason why
If your spouse has incurred a debt that they have hidden from you or has been spending more money than they let on, you may feel betrayed once you find out. Instead of concentrating on the debt or the money spent, concentrate on the reason why. The reasons a person may be committing a financial indiscretion could be a lack of trust, a lack of control in other places in their life, or even emotional or mental problems. It could also be because they desperately want your approval or want to protect you from unhappiness. Sitting down together and being honest about the reasons why the financial infidelity occurred is necessary towards healing.
Bring all bank statements to the table
In order to continue to repair your emotional relationship, you will have to work on repairing your finances. Strain due to debt must be dealt with in order for you and your spouse to mend your emotional bond. Gather all of the statements for your bank accounts, credit cards, loans, and all other financial paperwork. First sort, then go over how much you currently have in assets and how much you owe, and then begin to make a plan to get back on track for your goals.
Get a financial planner and a counselor
Acknowledging when you are in over your head is an adult reaction to a problem. If you don't know how to work through your financial or emotional issues regarding money and your relationship, see a financial planner and a counselor with your spouse. Your financial planner is the proper professional to help you and your partner come up with a sound financial plan that includes open communication and working side by side. Along with a financial professional to help with portfolio management, see a counselor to help with the emotional issues. The feeling of betrayal due to lying about finances can be as great as an emotional or physical betrayal in a relationship. You and your partner may need to go to counseling to find new tools that will aid you in getting your financial and emotional partnership in order.
Find a financial planner at an establishment like Global Wealth Consultants LLC to begin your journey.Share