Source: shapecharge / Getty
When you first meet someone, their financial situation may not be a point of focus, but as the relationship progresses, even if you don’t consider yourself to be a materialistic or shallow person, you’ll eventually want to begin paying close attention to their financial health.
Financial difficulties are often cited as one of the primary sources of stress for couples, and linking up with someone who has a track record of financial instability can be a recipe for disaster. To be clear, you should not label a person financially unstable because they don’t earn as much money as you would like. A person with a steady income, even if they are in a lower income bracket, could very well be considered financially stable. On the flip side, a financially unstable person can actually have high earning potential but manage their money poorly and have income that is inconsistent.
The tell-tale signs of financial instability include overspending, high debt, little to no money saved, borrowing money often to cover living expenses, constantly shifting living arrangements, and more. Here’s why a partner who exhibits these signs may keep your relationship stagnate.
It’s hard to make short-term plans
When dating a financially unstable person, even making short-term plans, such as dates, trips, and holiday arrangements can feel like pulling teeth. This is because the person’s financial pulse is not one that follows a predictable pattern. They can’t make plans in advance to go with you to the movies next week or to go with you on an overnight trip next month because they don’t even know if they will have the money available to cover their basic expenses. This is because financially unstable people generally spend money before they get it and they don’t follow a budget.
It makes the future appear uncertain
In addition to struggling to make short-term plans, long-term planning with a financially unstable partner can be deeply frustrating. You may want to discuss future goals such as getting married, buying a home, having children, planning for college, or even retirement. Your partner, however, is unable to speak on these subjects with confidence or take steps towards accomplishing them because they are presently drowning in money woes.
Emergencies are always exacerbated
Emergencies happen. They are an unfortunate part of life. Sadly, almost every emergency feels like the end of the world when financial irresponsibility is at play because it tends to have a domino effect. Car trouble can easily turn into the loss of a job when there is no emergency savings funds available. Worse, you may often be expected to step in like a superwoman and save the day any time there is a hiccup.
Financial responsibility may be grossly lopsided
If you happen to be more financially savvy than your less stable partner, there’s a good chance that you will take on the bulk of the money-related responsibilities. This can be off-putting and may result in tension and growing resentment that has the potential to stop a budding relationship in its tracks. You may also begin to feel as though you are being used by your irresponsible other half
