Are you struggling with money worries or debt problems?
- Do you and your partner argue about finances or bills in the home?
- Would your home or personal life benefit from an organised financial life?
It could be argued that deciding how to spend one’s income in the modern world is tough enough. A variety of technologies and gadgets, sporting pursuits, ‘keeping up with the Jones’ or good old fashioned hobbies, all increasingly compete for our disposable income / money. But when you add your other half in to the mix, decisions and divisions on how to spend the combined income can be a recipe for disaster!
- According to recent research, the male of the species are less concerned about saving money either for emergencies or just a rainy day and prefer to spend what is available, or risk greater returns with riskier investments.
Women on the other hand prefer to use spare cash as a security blanket to insulate any unforeseen circumstances. It is this trend that means women gravitate toward safer and more traditional savings plans and rather than risk their hard earned cash in a range of lavish purchases or riskier investments.
Then we add into this mixture the ‘ego’ factor of men traditionally adopting the role of breadwinner. Whilst less important since the turn of the century, many men still feel more comfortable in the role of ‘provider’ for the family. As a result, any monetary or debt problems are more likely to be hidden from their family by way of protecting them against harm.
This view is supported by a recent study conducted by ITV show ‘Loose Women’ which concluded that most household arguments about money and debt were caused by the husband or boyfriend’s perceived lack of caution. As men and women have very different views on money, these different needs, wants and views can cause disagreements, where the couples were previously happy.
Whilst different views can cause arguments, the real ignition of rows about money tend to stem from the failure to address and deal with financial problems. Kim Stephenson, an expert on the subject of debt-related depression, psychologist and creator of money website ‘Taming the Pound’, has conducted a considerable research proving that debt and money troubles act as a major trigger of depression.
- “Debt or money worries are the biggest reason for couples to consult [couples therapy]. Debt or money worries usually rank third or higher in any ranking of reasons for people seeking treatment for depression or anxiety,”
Kim Stephenson’s comments are also reflected in figures obtained by the BBC, which reveal prescriptions for anti-depressants have risen by more than 40 per cent over the last four years. Doctors and charities have also said they are being contacted more and more by people struggling with money worries and personal debt problems.
- “Given that millions of days are lost each year to illness, depression is a major illness and money worries are a major cause of general distress, which may contribute to depression.”
In summary, the worst thing to do about money problems or financial problems is to bury your head in the sand. Talking to your partner should be the starting point in sorting these issues and worries out and after that if you want to discuss your personal circumstances further why not get in touch with our personal debt specialists.
- Our free phone helpline is free to call from UK land lines.
- One call to 0800 018 6868 could be the best call you make to find a solution to clear debts!
