How to stop arguing with your partner over money

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From partners with secret savings accounts to people who are anxious due to insufficient income, it is no wonder that money has long been a taboo topic of discussion.

From partners with secret savings accounts to people who are anxious due to insufficient income, it is no wonder that money has long been a taboo topic of discussion.

It destroys family relationships and countless friendships, and causes many people to change their wages, savings, and expenditures.

In fact, a recent Canstar survey found that more than a quarter of Australians fell out or broke up with someone because of money.

Among the 1,049 respondents surveyed, 39% had a fallout with friends, 38% said they had quarreled with relatives, and 10% had severed relations with colleagues.

Comparing websites found that the average amount people competed for was US$4,300, which was as low as US$10.

Facts have proved that it is more common for millennials to cut their relationship with their partners because of money. This proportion is 34%, compared with only 28% in the country.

Canstar financial expert Ellie McLachlan said: “The struggle for money may stem from major changes in life, such as losing a job or gaining an inheritance, right down to minor incidents, as simple as arguing about how to split the bill in a restaurant.”

“When they share their finances for the first time in a new relationship, or when one partner feels that another partner is not financially reducing their burden, couples who have different means of money feel stressed.”

Loyal couples may share a bed, but some people draw a line between love and money.

New data from eHarmony shows that 58% of Australian couples claim that finances are the main cause of conflict in their relationship, while one in five couples still separate their finances.

The survey also found that 14% of people admitted to concealing financial status from their partners, including credit cards, bank accounts or other personal debts.

After the death of her uncle, Nicole did not want to share the inheritance with her partner Rohan.

“I’m not sure if I want to share the money. I ended up keeping a certain amount for myself and deposited a certain amount into an offsetting account,” she said.

“I also have a stock portfolio. I like to keep that account secret. Luohan doesn’t know the exact amount of my investment.”

Last year, she lost her job when she bought her first house, which exacerbated Nicole’s economic insecurity. “We have had some conflicts. At the moment I want to buy a new headboard, which is more expensive than Luohan wants. Because of the high price, he doesn’t think it is necessary,” Nicole said.

“But we all know that communication and compromise are important when it comes to financial disputes. Cohabitation helps us communicate better.”

Victoria Devine, a financial expert from She’s on the Money, believes that the way we handle money can have a significant impact on the quality of relationships.

“I have worked with clients and their debts are as high as six figures, but I haven’t told their partners,” she said.

“To say the least, this is an impact on this relationship, and it’s really difficult to resolve.”

Devine suggests that couples need to find the strategy that best suits them.

“Having a budget and a clear cash flow plan is essential because it allows you to identify and eliminate wasteful expenses, while also allowing you to focus your savings and money on the things you really value as a couple,” she said. “When it comes to friends and family, it’s helpful to communicate your goals and values ​​instead of just saying no

There is an opportunity for them to know exactly where you are from. “

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