Know the signs.
When you first start dating someone, financial stability may rank low on the list of attributes your sweetheart must have. But the longer you date, the more important financial security and compatibility become. In fact, 59 percent of divorcees said that money played “somewhat” of a role in their divorces, according to a 2017 survey from Experian. Hoping you won’t join their ranks? Catch financial instability early by keeping an eye out for these red flags from your partner.
Your partner lets bills pile up.
Watch for avoidance tactics around finances and bills, says Michelle Goeppner, senior manager of credit product strategy at Alliant Credit Union. A sky-high pile of past-due notices and unopened credit card bills might point to someone who’s hiding from his or her financial problems.
Your partner struggles with addiction.
If your partner is addicted — to drugs, alcohol, shopping or something else — that addiction can take precedence over everything else, including his or her financial health. In some cases, funding that addiction can become more important than saving money, budgeting or even buying necessities like food. “Addiction is often a sign that person has relationships with substances that are more important than anything else, including their overall financial life,” says author April Masini, an etiquette and relationship expert.
Your beau is blissfully ignorant.
If your partner has high credit card debt or a low credit score but is working to remedy that situation, that’s not necessarily a problem. But if your honey doesn’t even know his or her credit score, debts owed or other personal financial statistics, that’s a warning sign. Look out for someone “who doesn’t have a good pulse on where they are,” Goeppner says.
Your mate has a stack of credit cards.
Unless your significant other is some kind of credit-card-rewards-points genius, consider it a bad sign if he or she has a wallet bulging with credit cards and other payment methods. It might mean that your partner isn’t keeping tabs on his or her spending — and is ignoring ever-increasing debt by spreading it out among payment methods.
Something doesn’t add up.
If your partner drives a flashy car and is always showing up with fancy gadgets, clothes and accessories, but he or she doesn’t seem to have a mortgage — or a job — that might be a sign of financial instability, Masini says. If something doesn’t make financial sense, don’t shrug it off.
Your lover is lying to you.
If you are seeing evidence that your partner isn’t telling you the whole truth about his or her financial situation — hiding purchases, sweeping bills under the rug or fibbing about other financial details — be wary. It could signal that he or she is financially unstable.
All of your activities revolve around shopping.
If shopping is the name of the game whenever you spend time together, you may be in a relationship with a shopaholic. “When someone enters a store thinking, ‘What can I buy here?’ as opposed to ‘What do I really need?’ you know they are looking for the high that spending gives them,” Sanam Hafeez, a New York City-based licensed clinical psychologist, told U.S. News in a January 2017 article. Hafeez is also a teaching faculty member at Columbia University Teachers College and founder and clinical director of Comprehensive Consultation Psychological Services.
What to do if you suspect financial instability.
If you ferret out financial issues in your partner’s life, then your next course of action really depends on the seriousness of the issue and the strength of your relationship. One positive way to address your concerns with your mate is to frame the conversation around financial goals, not scolding. “Suggest ways to help bring your partner along as opposed to just abandoning them,” Goeppner says. Regular meetings — with just the two of you, a counselor or financial professional, depending on the circumstances — may also help you make progress on remedying the situation.
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7 Signs Your Romantic Partner Is Financially Unstable originally appeared on usnews.com
