When he doesn’t take money seriously – at all – you may need to rethink the relationship.
I just wrote an eBook on new relationships and how to make them last. There were many things that I included in that eBook, but one thing I forgot to talk about was that you need to talk about finances. (I think I may have to make some changes because this is an important tip!)
A survey by Match.com provides some interesting insight into new relationships and finances in Canada, where I happen to live. Only 6 percent of singles believe that a potential lover does not need to be able to manage their finances properly – whereas the other 94 percent believe it is very important. And an astounding 47 percent would not get into a new relationship with someone who has debt.
So what does that tell me, debt and finances is a big issue that needs to be tackled in new relationships.
Bad Money Skills Causes Breakups – Period
Infidelity is the number one reason that most relationships end up, but money issues is not far behind. Various things contribute to the demise of the relationship including:
- Lying about money
- Being short money for bills
- Living paycheck to paycheck
- Overspending
- Inability to agree about where to spend money
All of these things can cause a relationship to end, especially a new relationship.
I can’t count the number of times that I have seen people arguing about money in a relationship. I also can’t count the number of times that I have seen someone unhappy about how their money is being spent (or not spent). Whether we want to admit it or not, money plays a huge part in our lives and our relationships.
Warning Signs of Financial Issues in a New Relationship
Once I was dating a guy who always seemed to forget his wallet when we went out. It was not the reason that we broke up (I just wasn’t attracted to him anymore), but it probably contributed to my loss of interest in him. And it was annoying as hell.
In new relationships, signs of future financial issues are:
- Never having their wallet or any money to pay
- Credit cards being rejected
- Borrowing money from you
- Overspending without being too concerned about it (if they make a ton of money then this may be okay, but if they don’t then this is a bad sign of overspending.)
- Inability to get loans
How To Protect Yourself From Taking On Their Financial Issues
Until you know that your new relationship is heading towards something long-term, you should protect yourself from taking on their debt. I once co-signed for a guy for some stereo equipment, and I ended up having to pay it off when he left me and I couldn’t find him.
Therefore, the first rule is to never co-sign for anything! Even if you feel bad that your partner doesn’t have a car and they swear up and down that they are going to make the payments – don’t. If you end up with the bill it will affect you and your ability to buy stuff YOU want – not to mention your credit rating if you are not aware that he or she is not paying THEIR bill.
Also, don’t share banking information. If your partner is an over spender or just has no problem spending other people’s money, then you could suffer big time from sharing your pin number. Wait until you are committed enough to get a joint account before your let your partner have access to your funds.
Other than that, it is up to you whether or not you want to pay for all the nights out or not if you are with someone who is horrible with their finances.
The post New Relationships And Finances: Why Your Money Skills Matter appeared first on How Do You Get a Guy.
