Tips To Discuss Money When Either You Or Your Partner is Unemployed
It can be pretty tough to discuss money with your partner. This is not strange to see someone dodging money talks because they think it can strike up a heated argument. Since you avoid discussing money, you cannot get to know about the financial position of your significant other.
Money conversations are serious conversations but ignoring them is not the solution. How will you tell your partner that they cannot afford to buy something without looking at their current finances? It may sound quite dangerous, but there are a couple of ways that you can use to make your conversations less intense.
Strike up the conversation
You both have the responsibility to meet household expenses. Therefore, you should know how much you both are to contribute. It is the pandemic time, and one of you may be unemployed or earning less money than before the pandemic.
It becomes more crucial than how your partner is spending money. You do not need to be autocratic. You need to check the budget. You may not contribute the same amount as of now, but it does not mean that you will not try to compensate it down the line.
Currently, it would help if you saw how much money you can manage to contribute to household expenses and make sure that your partner is not going through the burden. Since a large portion of your partner’s income would be going toward regular costs, it may not be easy for them to contribute the same amount. This is why you should try to lower down the limit.
Do not criticize
Even though you are trying to be on a tight budget, you can end up spending more than the set limit. This is the pandemic time, and you do not know when you will land a job. Your partner’s spending behavior will affect the household largely.
Therefore, it is paramount to be careful about the spending of each penny. However, you do not need to yell at your partner if they have overspent. What has happened has happened. You cannot turn back the clock to reverse the events.
Instead, you should find out how you can prevent it from happening in the future. Try to cut back on your spending next month so you can recover the loss.
Admitting that you are struggling financially should not be as difficult as you feel. Whether you or your partner is earning a good amount of money, it can be hard to say afloat when you are unemployed.
Apart from household expenses, you have a debt to tackle, which belongs to both of you. Most people do not express their concerns and let things be as they are. This is where you go wrong. It would help if you spoke up when it is necessary.
You do not need to jump down your partner’s throat, but it is essential to let them know the accurate financial picture. If you both do not know where you are, you will not be on the same page. Even if it is distressing, you cannot hide it.
If you have debt like small loans in Ireland and it is convoluted to pay it off, tell your partner what needs to be done to tackle it. Both of you should come on the right plan, so you do not fall behind the repayment.
Whether it is an individual loan or joint loan, this time, you should not fight shy of helping your partner’s paying off debt because, ultimately, it will affect your life too.
Learn to say no
There are several times when you are not comfortable spending money. Sometimes it can be your partner who would want to take you to dinner or the other times it can be your friends who would like to ask over for dinner, parties, and the like.
It can be hard to resist giving resignation to their demands, but you should learn to say no. Nobody knows your proper financial condition. You can politely deny your friends by making an excuse, and sometimes you can straight away tell that you are in a tight spot nowadays, so you cannot afford to pay even a slight amount.
Assure them you will enjoy yourself with them next time. As far as it is about your partner, you do not need to say yes all the time. It is straightforward to convince your spouse to coincide in your opinion. Frankly, remind them of your current financial condition. Do not hesitate to tell them the ramifications of such kind of overspending acts.
It is crucial to be careful about your financial behavior when one of you is unemployed. You cannot take things lightly. You both have to Take stock of your financial condition and develop a plan that can help you keep afloat.