Marriage is suppose to be about love and romance. After all, love can overcome any problems.
Sadly, the reality is that it cannot. The number one cause of divorce, according to researchers, is money. This means that love tends not to overcome financial hardships.
This means the balance sheet of any potential partners is critical. While it is not romantic to look at a potential mate like one would a business, with the numbers we are talking today, it is an approach to consider.
In this video I discuss how accepting the bad with the good might mean putting oneself on the hook for a lot of debt. This is something that will not go away with divorce. It is one thing to accumulate that during the marriage but to walk into it is a different matter altogether.
Are you aware of what you are walking into?
▶️ 3Speak
Yes it is funny how financial problems wreck many marriages. I think it depends on the individuals as if you love someone money is secondary. I have never made money into a big thing and then again have had debt but it is part of life and deal with it. If everyone fought over money then they are missing the point of a relationship as you are a team. I would hope when you got married you would be aware exactly what the finances are and deal with it before you tied the knot.
Posted Using LeoFinance Beta
It's not as simple as that. What if your spouse is irresponsible with money? Money is a serious matter. In what kind of a team do the members of that team not trust each other? It could be as bad as one team member scoring an own goal in every game. I don't think there exists a football team that wouldn't kick that player out sooner rather than later.
Posted Using LeoFinance Beta
I agree and why you need to know before you get married. Everyone I know work together and have no financial troubles as they both have the same values. I get that some people hide things and aren't as truthful as they should be and where finances could be a problem.
Posted Using LeoFinance Beta
It can also happen that people change or that their circumstances change sufficiently for certain type of external pressures that have kept their spending in check to go away, after which their true selves come out.
It's about time someone addressed this issue in a post. It is of utmost importance. Unmanageable debt loads certainly reduce anyone's, regardless of sex, eligibility for marriage.
The money management skills of one's spouse are very important for any investor. Let's say you're middle class and you come into some serious money by investing in crypto in a successful manner. You may be able to handle your money (or not) because you know exactly how hard it was to to earn it. But what if your spouse is one of these people who simply cannot handle money or at least the kind of money that you might now have? @denmarkguy discussed this issue in one of his posts where he wrote how his ex was good at making ends meet when money was very tight but who lost control once the situation got better.
I think much of what makes people weak or skillful at managing money has to do with their future orientation, which has a major genetic component, but also the conditions they grew up under. Some people may be used to handling scarcity but have no idea how to live with abundance.
Posted Using LeoFinance Beta
This is an interesting subject. In many ways, I always had rather unromantic view of marriage (or domestic union, common law marriage, cohabitation or whatever the alternatives might be called) as an arrangement in which spouses recognise that their interests will be served better if they live together than if they live separately. And financial considerations must play an important part in it.
Especially these days when marriage is becoming a luxury less and less people in modern societes are able to afford.
Posted Using LeoFinance Beta
I never really thought of it as debt being the reason. I thought it was because the internet has made most of the women picky and because they have chosen to work longer, they complain about not finding someone that fits them. But it definitely does make sense that debt will crush your spouse if you have no money management skills.
Posted Using LeoFinance Beta
It's the young women moreso than the young men in America these days who have more debt that their degree helps them pay back. Young men are not stupid. Marriage seems to be somewhat passe anyway. The hookup culture reigns supreme in colleges.
Posted Using LeoFinance Beta
Lol. It definitely is true and there are way too many horror stories about females right now. I don't know anyone who can look at those stories and rethink their commitment to a person.
Posted Using LeoFinance Beta
It’s amazing how attractive one becomes when you have tons of these $$$. Unless of course you have a Monero wallet that the wife does not know about. :)
Posted Using LeoFinance Beta
That's a good point. I believe some people are really sensitive about talking about money with their spouses and they avoid it at all costs when, in fact, it's one of the first things they should be discuss before they decide on a commitment such as marriage.
If two people have very conflicting views on how to deal with money it's only a matter of time before things go south.
Posted Using LeoFinance Beta
Taskmaster's dating advice: think like a gold digger :))) On a serious note it's important to look at the money managing skills of your potential spouse especially if you want get married
Posted Using LeoFinance Beta
Well, not sure how it is where you are but if you are in the States, the other persons debts from before marriage become your debts.
If it is a big number, that is not something that people might want to walk into.
Posted Using LeoFinance Beta
I didn't know about the debt part, I don't think it works the same in my country
Posted Using LeoFinance Beta
Ignoring the money personality of a potential spouse can be a serious mistake. Marriage is essentially an agreement enforced by the government where you agree on certain rather heavy responsibilities that become your legal obligations.
Posted Using LeoFinance Beta
people reading this will assume we are a community of gold diggers :)))
Posted Using LeoFinance Beta
No wife=Financial Freedom😁😁😁
Posted using Dapplr
That's why I haven't married until now :)
Hugs!