Don’t let financial stress cause relationship stress

Leading Australian personal debt management company Debt Rescue says the dynamics between relationships and finances consistently affect one another and in most cases, financial stress or debt tend to be the leading causes of marriage and relationship breakdowns.

Debt Rescue Operations Manager, Rachael Witton, said in some instances it is hard to recognise what comes first however, in most cases when finances begin to slide out of control, relationships are affected equally as much.

A recent online survey of Debt Rescue clients found that the majority of respondents had admitted that debt had caused some kind of relationship issue for them.

“Symptoms of financial stress leading to relationship breakdowns can be varied and often overlooked by the significant other,” Ms Witton said.

“More often than not, hiding credit card purchases or expenses from your partner, while they may seem innocent enough in the first instances, can lead to untruths and eventually distrust in the relationship,” she said.

Other symptoms of financial stress leading to relationship stress include secret separate bank accounts; not valuing the input of the other party; and inequality if the primary income earner gives most of their pay to their partner to manage the household and as a result the earner does not have a thorough understanding of the household costs.

“All of these symptoms, once recognised, can be rectified if couples are willing to tackle the financial issues and in most instances, simply talking about financial stress eases pressure off the relationship,” Ms Witton said.

“Only together can couples solve their relationship and financial stress, take a deep breath and work together as a team. The best advice I can give to couples facing relationship stress caused from financial issues is to seek help from a professional to create a debt management plan.

“Once you recognise you are in over your head, talking to a non-judgmental outsider or third party is valuable and Debt Rescue can help couples to set up realistic budgets, understand where they went wrong and look ahead,” she said.

“Once you begin to get back on track with your finances, look to reward each other by finding some space in your budget for each of you to have your own spending money or have a pre-determined monthly financial reward for being responsible.

“But most importantly, you managed to overcome your financial stress together, so be sure to celebrate your achievements together.”

Anybody experiencing problems with debt can contact Debt Rescuefor help toll free on:  1800 00 3328. For further information visit www.debtrescue.com.au.