5 Financial Red Flags to Avoid in a Relationship

It’s Valentine’s Day! Love is in the air, the whole world is red, and it seems like there are no worries in the world. Even single people are enjoying shopping discounts because self-love is your perfect valentine!

While many couples are buying gifts for each other and single people buy gifts for themselves, it’s considered a good time to spot financial red flags in your partner and yourself!

1. No money talk

I know, it’s an awkward topic but that’s why it shouldn’t be avoided. Knowing about your partner’s spending habits, debt, and income -to name a few- just prepares you for what’s ahead! Being aware of each other’s financial strategies will shape your lifestyle and see if it’s something you can cope with. And you know financial problems are a significant reason for divorces. However, that doesn’t mean picking your partner based on their monetary value, so to speak, but it’s not a trivial matter.

2. Credit Card is their best friend

We can't have all the money in the world, this is why we have credit cards. They're a recipe for disaster if they're used haphazardly. Let me just say that an excess of anything is a bad thing. If someone is paying with a credit card all the time, that’s someone with a debt problem. People get carried away with credit cards because they’re basically spending someone else’s money until payday comes.

3. Secret spending

Have you watched Crazy Rich Asians? Remember that scene in the beginning when Astrid (Gemma Chan) came home and all the housekeepers took her shopping bags and hid them? But her husband was actually aware of her secret spending which actually put a strain on their relationship.? That scene perfectly describes secret spending and its consequences. It’s a serious concern especially if you share a joint account, yikes! Saving to get a new house? Sorry, someone thinks a Birkin is more important.

4. Control freak

The power imbalance in relationships leads people to do horrible things just so they could be on top! If one partner only has all the power over finances, that’s the biggest red flag you will ever see! Whether you don’t have access to your money, are not allowed to work, are always criticized on how you spend money or barely know anything about your money situation (loans, debt, mortgage, …). In most cases, financial abuse usually leads to domestic violence. So the more control your partner has over your finances, the harder it will be for you to break free out of an abusive relationship.

5. Stingy

Spending money is not the source of all evil, sometimes being a bit protective of money to the point of relying on home remedies is A BIT much! It’s even worse if they’re stingy with their money but liberal with yours! Your hard-earned money is just as valuable as theirs!

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