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THE EFFECTS FINANCES HAVE ON RELATIONSHIPS

gimme_gimme_gimmeIt would be naïve to assume that money does not affect our relationships – when, in fact, in some cases, money may even determine whether a relationship will last. One of the ways to ensure that money does not impact a relationship negatively, is to encourage honesty within the relationship; such that both partners are frank and candid about the way they deal with their financial ventures. Each different person has a unique way in how they deal with finances. Thus, partners in a relationship should be able to know what their different attributes are when it comes to dealing with finances. For instance, a couple should be able to know who among them is the investor, and who is more extravagant. Unless this is done, a couple may not be able to know how to work as a team in order to manage their finances; this in turn may fuel conflict in the relationship.

How To Deal with Financial Problems That Threatens Your Relationship

Another effective way to curb financial conflict in a relationship is by remaining calm while discussing finances. Failure to address financial issues in a calm manner may result in more conflict. Hence, the couple’s goal should be to come up with ways in which they can work as a Businessmen-arguing-over--007team when it comes to making financial goals, so that they can both benefit in the long run. While working together towards making financial goals, a couple may also be able to know what they can prioritize (whether it’s to invest in buying a new home or taking a vacation). The next thing that a couple should probably do is decide who will take responsibility for the bills and bank accounts. The couple should decide whether to have a joint account or separate accounts; and allocate each other different duties that may include paying rent or mortgages, doing shopping, etc. A couple should be able to figure out which alternative works best for them when it comes to operating bank accounts, be it joint or separate accounts.

In order to avoid financial conflict in a relationship, a couple should also ensure that they make time to go through their accounts. This will enable them into know whether they are reading from the same script, when it comes to financial management; it will also enable them to assess what they have incurred in losses. Going through the accounts helps the couple pinpoint where they are financially, thus, allowing them to better plan the necessary goals that could help them by setting themselves up for success in the future. Getting financial advice can also ease financial conflict that may be existing within a relationship. A couple may seek advice from a bank lender on how they will go about paying off debts or a debt collectors, like lvnv llc ; this will not only make debt paying a bit easier, but  also help ease tension within the relationship.

A couple should also take time to discuss matters involving the losses they have incurred, so as to facilitate coming up with more wise decisions to make, regarding their finances in the future. Sometimes large disparities in income can also fuel conflicts in a relationship. Today, it is advised (where possible) for couples to have dual incomes, so as to avoid petty conflict, like competitiveness or arguments over who has more power – and who does not. When these conflicts arise, the couple should approach the issues rationally, and delegates financial responsibilities, as well as, how then money will be spent; the couple should do their best NOT to allow this issue to divide them, but, rather, use it to the best of their advantage by working together as a team!

Failure to have enough financial means may also lead to more conflict within a relationship. Lacking enough finances to acquire basic needs, in general, weakens the bond that may exist between couples. For example, if a spouse/partner owes a debt to midland credit agency – keeping one’s financial problems to one’s self (when it, in fact, it effects the both of you), can be detrimental to the overall confidence of the relationship. Hence, during such circumstances, couples should put forth an effort to make sure they effectively communicate about finances – so as to make it possible for their relationship to survive the tide of financial strain.

After all is said and done, money does not guarantee all the happiness that is needed to keep a healthy relationship thriving – but it can affect relationships to some degree. Therefore, it should be a couple’s goal to make sure that finances bring them closer together as a couple – because it is worth it.

 

The Road To Financial Self Improvement

process-improvement-and-benchmarkFinancial self-improvement basically seeks to relieve you of your financially stressful burden to deliver you to financial freedom or independence. When you talk of financial self-improvement, it’s obvious money will be involved. The discussion could reveal how money is saved; best ways to invest the money or even how to intelligently spend money; this makes money as a common denominator. Financial stress has risen as a result of job instability (which includes scarcity and frequent threats of layoffs) due to the economic crunch, consumerism, materialism and the financial over-extension of acquiring too much debt. Some of the stresses arise when one cannot meet their financial obligations, thus leaving them incapable of seeing a glimmer of hope or solutions for their problems. Questions mainly asked in such cases are: How can I get out of this financial quagmire and improve myself? WAYS TO IMPROVE FINANCIALLY

Organization: You need to organize yourself financially by first getting to know how much you have in your bank account, and if it’s enough to cover your credit cards to avoid accruing interests. You could also ensure that you spend less on the purchases you make; if quality is an issue for you, look for best bargains.

To make a mental inventory of what you already have and what you need to have, create a budget that is clearly written down, and follow it strictly; this will help you avoid spontaneous and impulsive buying – don’t be a spendthrift. Avoid buying things on a whim, but encourage shopping smart, looking for best discounts and sales. Simply put, spend less than what you earn.

You can start building up savings from your income (even if it’s a small amount); invest your money, and let your money work for you. By choosing a good, secure investment, you are letting your interest grow to improve your savings. Divide your money into portions, and keep one part as a ‘financial fortress ‘ which cannot be touched or spent for any reason.

Financial savings is what keeps your hope alive, and assures you of safety while it generates a steady income. You can use the generated interest, but the capital saved must be left intact – this is the power of emergency saving; it involves setting aside an amount of money to help solve impromptu incidences this gives you confidence of being in control and having things financially covered.

Setting yourself up this way financially, also takes away stress and encourages you on the path of saving to save regularly for emergencies; thereby allowing you to refrain from touching your interest, further allowing your interests to keep growing.

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Take care to understand and be able to deal with the cost of maintenance for property you purchased. For instance, if it’s a car that you have purchased, can you maintain the cost of its repairs, insurance, fueling, and cleaning? Remember that the maintenance costs take up part of your savings, and so must be carefully thought through.

Learn financial Offense rather than Defense: This means that once you set up systems that help you manage your money, stick to it and move on to the next stage of how to bring in more money. You could do this through improving yourself at work for a higher salary, put up a business, and improve on entrepreneurial skills that can give you an edge above the rest in the competition. You can also resolve any outstanding debt you may have with collection agencies; but if a debt collector, like Dynamic Recovery Solutions, has an inactive website, you can still resolve your debt with the help of this credit repair website – http://deletebadcredit.org/shortcuts/free-help – and get debts from dynamic recovery solutions quickly removed from your credit reports. Overall, when more money start to come in, stick to your lifestyle – for any change can poke more holes into the progress you’ve made. You can also improve your finances by simply cutting costs and downsizing or downgrading.

FINANCIAL SELF IMPROVEMENT AND PSYCHOLOGY

You need to first uncover, challenge and change self-defeating money beliefs (or any negative attitudes) to be able to make positive self-improvements. Negative attitudes or beliefs are learned in childhood, setting a unique relationship and understanding of money. The financial choices we make affect other areas of our lives, including physical, mental and relational health.

To address the physical, mental and relational aspects that are affected when it comes to money, you need to do the following:

Map out your financial history or background: It’s clear that our financial beliefs dictate how we use money today. So how does you past experiences affect how you spend or save your money? What are your most painful and joyful experiences with money? What attitudes formed from these experiences, and how beneficial they are to you?

Having a deeper understanding of your beliefs and feelings around money: You can revise or change your money attitude by talking to successful people, measuring their financial beliefs against yours; and model some of their behavior, to help you achieve a higher level of financial success much faster!