To make your relationship happy and healthy, you should know the financial red flags in a relationship. Because that can actually harm your relationship in the long run. So take those warning signs seriously and talk about them with your partner.
Let’s talk about financial red flags in a relationship
But before talking about financial red flags in a relationship, you should understand how finances impact your relationship:
How finances impact your relationship
It’s important to talk about finances with your partner, i.e., financial issues, money management, investment, and spending habits. Because bad financial status and different financial values (and goals) can cause more stress, conflicts, and fights in a relationship. And that’s what we call financial incompatibility.
Remember: Relationships are not about that dreamy world where love is sufficient. It’s more about being practical in every aspect and sharing the same values, interests, and goals in life, including finances. If even one of the partners has bad financial habits, it can destroy your relationship in the future.
So just be aware of these financial red flags in a relationship and talk about them with your partner. So that you sort this out as soon as possible if you want to stay happy in the long run. These poor financial practices can ruin your financial situation, which in turn affects all other aspects of your life. If such bad practices are done on an occasional basis, there is not much harm. But if they are done consistently, they seriously need your attention.
Top 7 financial red flags in a relationship
Here is the list of 7 financial red flags or warning signs that can cause stress in your relationship:
HIDE OR TELL LIES ABOUT FINANCES:
Being in a serious relationship simply means you have the full right and comfort level to talk about anything with your partner, including finances. So if your partner hides something or tells lies about finances, as you asked, it means he or she is not serious about their relationship. Or there is something fishy or an issue due to which he/she doesn’t get open about finances.
For that, you should talk about it openly with your partner to get to know the issue. So that you resolve it soon. And even try to maintain that comfort level so that both don’t need to lie or hide anything from their partner (including finances) in the future. Because lying and hiding can create trust issues in a relationship and even harm it. This is one of the top financial red flags in a relationship that you should take seriously.
HAVE HABIT OF SPENDING TOO MUCH:
If your partner is a shopaholic and can’t take money management seriously, there is no doubt that you end up having no savings, more credit card dues, and even more debts in the future. Even they try to hide their spending habits from you because they know you won’t like them.
These little yet big things can create friction in your relationship. So you should have an open conversation about those financial red flags in a relationship with your partner on time. The earlier you talk about these things, the easier it is to get them resolved. For that, just set some financial rules that you both should follow for a bright relationship.
DON’T TAKE FUTURE PLANNING SERIOUSLY:
Future planning is also a very serious topic to talk about with your partner. Being in a serious relationship means planning and working on it to create a bright financial future together. But if your partner is not serious about financial goals, future planning, and investment, how can you stay financially secure with them? And that financial insecurity can put a lot of pressure on you, especially during emergencies, which becomes the reason for more fights and issues in a relationship.
So watch out for those financial red flags in a relationship to maintain good financial status and a better financial future. Moreover, be smart while investing your money and make sure the investments are safe.
HAVING HABIT OF BORROWING MONEY FROM HERE AND THERE:
As life is unpredictable, sometimes it happens when you (or your partner) need to borrow money from your family or friends. If your partner does that once in a while and even returns it responsibly, that’s completely fine. But if your partner is not returning borrowed money responsibly and is even not able to manage money, he or she will not be able to give you a bright future.
That habit of getting money from one side, then from another, and then from another can get you caught in financial distress and debt. And you may end up suffering a lot, which can create frustration and differences in a relationship. Therefore, work collaboratively to change poor financial habits by figuring out the financial red flags in a relationship and just being responsible.
GETTING IRRITATED WHEN TALKING ABOUT FINANCES:
Some people are not that hard-working and responsible towards maintaining a good financial status. And they get easily irritated when you talk about finances with them. They either try to change the topic, walk off from the discussion, or get upset (or angry) when you tell them to be responsible.
See, this is how money majorly affects your relationship in the long run. And you guys just can’t neglect that aspect. So talk about it openly with your partner to know the root cause of this irritation and work on it. Otherwise, those financial red flags in a relationship get so big that they end up affecting all other aspects of life.
DON’T PAY EMI AND PAYMENTS ON TIME:
Some people also have some annoying habits, like not paying dues, bills, or payments on time, which is one of the major financial red flags in a relationship. If your partner is also one of them, this does a lot of damage to your status and reputation. Thereby, you can’t even imagine a bright future or a happy relationship with such an irresponsible person. You should talk about it at an early stage of the relationship, so that you two can manage the money and lifestyle together.
HAVE DIFFERENT FINANCIAL VALUES:
To have a bright financial future, you guys need to talk about financial goals, desires, and values. If your financial goals and values are different from your partner’s, it gets quite difficult for you to get along with your partner. So it’s good to know the financial red flags in a relationship. And even good to talk about it at an early stage to know the financial compatibility or incompatibility with your partner. And then decide to stay in that relationship or to move on.
Final words:
You need to talk about these financial red flags in a relationship with your partner, preferably at an early stage. Then work on it together to make a change in them. I hope these efforts will give you better financial security and lifestyle, which will also be good for your relationship.
But even after talking about it openly and putting in the effort, if you have not seen a change in your partner’s behavior or responsibility, then you better part ways at an early stage of your relationship. Because that financial incompatibility will not give you a healthy relationship in the long run.
