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Relationships
Counsellor shares 4 top tips to help couples cope with money woes
By Aidan Milan
2 years ago
2 min read
The cost of living crisis has put pressure on relationships up and down the country. Here’s what a counsellor has to say about how to handle that pressure.
Hollywood might have you under the impression that money is nothing compared to the power of love, but make no mistake, financial problems can unfortunately be the kiss of death for a happy couple.
It’s less about being superficial and wanting lots of stuff, and more about the huge stress that not being able to afford things like the cost of living can do to people.
A recent survey by Counselling Directory found that, of the over 500 verified therapists who responded, 49% of them have noticed an increase in client conversations around finances or money-centric concerns, and 22% have clocked a rise in clients experiencing relationship problems because of money.
And Monzo commissioned a report that found the average couple argues about money 5 times a month, while 1 in 7 (15%) have broken up with their partner specifically because of money issues.
“As a therapist,” says Counselling Directory member Rosalind Miles, “I often meet couples who are navigating increased tensions within their relationship due to financial stress. This can be challenging for both parties, however, it’s important to remember that you’re not alone in facing these difficulties.”
If you’re feeling money-centric strain on your relationship, here are some tips from Miles to help you and your partner get through it together.
Communication is key
“Try to establish and maintain open lines of communication about your financial situation together,” says Miles.
“Share your concerns, as well as ideas for addressing the challenges.”
Plan short and long-term financial goals together
“This may include creating a budget,” says Miles, “saving for specific expenses, or working towards debt reduction.
“By establishing shared objectives, it can help align your efforts and bring you both together to provide a sense of purpose.”
Avoid blame
“Remember that financial challenges are often external to the relationship,” says Miles.
“Avoid blaming or passing judgement and instead focus on working as a team to find solutions.”
If you can, get a professional involved
“Consider consulting a financial advisor, StepChange or a therapist,” recommends Miles.
“They can provide expert guidance on managing your finances and may offer solutions you haven’t considered.”
Image: Getty
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