The problem that anyone who is either married or currently in a serious relationship can face is that your partner can start accumulating a variety of debts and loans, and he has a hard time escaping from those loans.
Such a situation is not uncommon, as nowadays, with the ability to borrow large amounts of money in a very simple and short time, it often attracts people who have not had any problems with credit drawdowns and repayments in the past, needs to be addressed and done as soon as possible. But how do you most effectively and best handle such a situation so as not to offend your partner but at the same time make it clear that this cannot continue?
The very first tip that I think everyone should follow is to be careful with exactly what methods you use to deal with your partner’s credit problem .
When you are trying to solve your own credit or debt problems, you naturally act in the ways that are better and better for you, because you know yourself and you know what to do to get the best results. But that does not mean that your partner will have the best solution. Your partner may like to pay off your debts gradually, but you want to get rid of them as soon as possible. This means that you have to be careful about the approach you take to deal with this negative credit history, and you need to talk to your partner before taking any action, because after all, these credits or debts are his, and so is your partner. the person who should pay them back.
Another tip that goes along with the above is that you definitely do not pay off all of your partner’s debt.
If you start paying off every partner’s debt, they will have no motivation to fight and get out of their debt, and they may start relying on you to help them, which may result in them continuing to borrow without thinking of the consequences. Instead of simply paying off all the debt, talk to your partner and, for example, offer to help them with your credit or debt repayment, but only if they eventually give you that amount, even if you are a married couple and share all your income. This way, your partner will feel that he can no longer continue and he will have to find a solution to stop borrowing and also to repay all his loans.
Another thing you can do is educate yourself and your partner in budgeting and personal finance .
Whether you go to a financial advisor together, seek advice from a friend who is experienced in the field, or simply take the time to read through each of the financial manuals, such an entrepreneurial spirit will give you both motivation to better manage your finances and more effectively . And in addition you get another thing you can do together.
But if you see that your partner is not doing your financial organization anyway, then come up with the idea that you can take on your financial planning and management. Whether that means paying all your bills and keeping track of your expenses, or going so far as to give your partner a certain amount each day that they can spend per day, this way you can make sure that you and your partner your budget will not deteriorate yet and you will also be able to keep up with your partner’s abstention from taking new interest-free loans. And even if your partner is dissatisfied with such a suggestion, over time, I think he or she will see how much your financial situation improves.