Secret debt in marriage: Introduction
Now that Valentine’s Day is over, we need to not lose that loving feeling. Many Canadians are not crazy with their love one’s finances. They may wish to book a financial date evening. Many are keeping debt secrets from their partner, or fear they are hiding financial information from them. Perhaps now is the time to come clean with secret debt in marriage.
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Secret debt in marriage: A recent survey
A brand-new survey identified that Canadians in a relationship (whether living separately, common law or wed) wish they can change a minimum of one of their partner’s financial behaviours. But their loved one could be oblivious. Many reported seldom or never ever talking money or budgeting with them.
Secret debt in marriage: We have previously written about this tender subject
Spouses or partners holding secret debt in marriage is nothing new. We have previously written on the topic, and others involving couples, including the following blogs:
- JOINT ACCOUNTS: SHARING WITH YOUR SPOUSE IS GREAT, BUT NOT THIS – January 22, 2014
- FINANCIAL INFIDELITY IN MARRIAGE LEADS TO DIVORCE – February 25, 2014
- FINANCIAL INFIDELITY DEFINITION: HAVE YOU EXPERIENCED IT? – February 3, 2015
- FINANCIAL INFIDELITY: DON’T WAIT FOR YOUR SPOUSE TO CHEAT BEFORE DISCUSSING MARRIAGE FINANCES – July 7, 2015
- FINANCIAL INFIDELITY: DON’T WAIT FOR YOUR SPOUSE TO CHEAT BEFORE DISCUSSING MARRIAGE FINANCES – July 7, 2015
- # VIDEO – FINANCIAL INFIDELITY HELP: USE THESE SECRET STRATEGIES TO SAVE YOUR MARRIAGE # – November 4, 2015
- #VIDEO – FINANCIAL INFIDELITY RECOVERY: RECOVERING FROM FINANCIAL DISHONESTY IN MARRIAGE# – April 5, 2017
Secret debt in marriage: Couples best practices
When it concerns taking care of debt as a couple, I recommend complete and honest disclosure. Work together to check your debts and make a household budget. Plan together how your household income will allow you both to pay ordinary monthly expenses, pay off debt and hopefully, save for emergencies and retirement.. Budgeting discussions are not easy, but if you can prepare a realistic one and stick to it, your relationship will find a new level of love.
Secret debt in marriage: What if you find out that talking and budgeting is not enough?
Although we are not social workers or marriage counselors, we are expert in helping people work through their financial challenges.
That is why the Ira Smith Team always looks first to see if one of the bankruptcy alternatives would be a better fit for you. The alternatives we look at with you include:
The Ira Smith Team has 50+ years of cumulative experience dealing with issues just like the ones that you’re facing. Give us a call today and let us give you back peace of mind Starting Over, Starting Now.
