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Relationships can be tricky; more so when they start getting serious. While it is true that love is blind, you should try to keep your eyes open especially when it comes to finances. Even if you are financially independent, having a responsible partner is very important. So, before you go ahead and fall all the way in love with a person, make sure you are keeping your eyes open for these ten signs in your partner from earlier on in your relationship.
1. They Have a Lot of Debt
Having debt is not always a bad thing; while it is acceptable that people may have debts due to occasional circumstances, the alarming fact would be that they are not making an effort to get rid of it. So, if you are with someone who has a significant debt and seems quite comfortable with further accumulation without making any efforts to pay it back, it is time to re-evaluate your status as a couple. Offer them to get debt consolidation loans or find other ways to get rid of their debts.
2. They Are Unemployed Frequently
Accepted that the economic conditions are making unemployment a common problem, but if it becomes a too regular pattern, there are likely to be other underlying reasons. While losing a job once or twice is understandable, being unemployed frequently after short time periods indicate a problem in the attitude of the person and can be hurtful in a relationship.
3. They Spend Too Much Unnecessarily
If your significant other spends too much on unnecessary things instead of saving anything for the future, it indicates that they have trouble in handling money. The future can be quite unpredictable and saving up a certain amount of money is important. Even more alarming would be if a person spends much more extravagantly than their earnings allow them to, resulting in mounting debts.
4. They Don’t File their Tax Returns
If the other person has been going a long time without filing for their taxes, it shows an irresponsible attitude and it can be dangerous in the future. At some point of time, they are likely to be caught up by taxmen, getting into a major hitch.
5. They Have a Bad Credit History
A lot of defaulted payments, unpaid utilities, a previously filed bankruptcy or a foreclosure all indicate a lack of financial planning. If your partner has a bad or dented credit history, think twice before pursuing the relationship. Old habits are hard to break and if these financial indicators are a regular pattern, they can only spell trouble for you in future.
6. You Have Different Attitudes towards Money
While it holds true that opposite attracts, too much of it can be a problem. When it comes to finances, it is better that both people in a relationship are on the same page about basic household expenditures and savings. After you have determined how much each of you will be pooling in towards joint expenditures and stick to it, you can splurge the rest the way you want without causing friction.
7. They Lie About Their Finances
If you caught your partner lying about their finances; debt, income, expenditures, to you or any other significant person, you should be warned that these lies can be frequent. Whether it is about an unpaid debt or withdrawing money from your account, it indicates financial irresponsibility and dependency on others.
8. They Borrow Money from You or Someone Else
If your partner has a frequent habit of borrowing money from you or someone else, it means that they have a habit of overspending money and may have crossed their credit limits. The habit is not only cheap, but can also put you under a lot of financial burden. If they have debt on their card, tell them to get debt consolidation loans.
9. They Use Your Credit Card
No matter what the excuses are, if the other person regularly has a habit of depending on your credit card for payments, it surely means their own is well over its limits, a sure sign of financial irresponsibility. Sharing all the financial responsibility alone can get taxing for you over time.
10. They Let You Pay For Everything
Someone who disappears regularly when it is time to pay the bills, whether it is a restaurant bill or some kind of utility, that someone is not the person to be with. Letting you pay occasionally is understandable, but the fact that the other person could not afford a single dinner once in a while should be alarming.
Remember, getting out of a relationship is much easier in the beginning than after spending years with someone, and specially someone who is financially dependent on you or does not contribute to the household expenditures. Poor finances can take a toll on your relationship, even more than you can think possible.
CJ is a relationship counselor who frequently writes about how you can make you relationships work better, and how things like hobbies, interests and finances can take a toll on a relationship. People with a bad financial history can look for debt consolidation loans to get out of trouble and work towards maintaining their relationship.