How to Talk to Your Partner About His or Her Debt

They say love conquers all, but in reality, it doesn’t always conquer money problems. Financial issues can take a huge toll on a relationship, so much so that money is often cited as a common reason for divorce among US couples.

Of course, what can sometimes make a relationship even more shaky is a situation where one partner comes in with a solid financial history and the other comes in with a wad of debt. If this sounds like you and your partner, you’re not alone, but you do need to approach the situation delicately.

Talk Numbers, and Talk Honestly

If you know that your partner is coming into your relationship with debt, sit down and have an open discussion about what exactly that entails. There’s a difference between carrying a $3,000 balance on an old credit card and being $40,000 in debt. Take the time to understand exactly how much debt your partner is facing, and where it stems from.

Once you develop a clear picture of the type and amount of debt you’re looking at, see if you can figure out a way to tackle it. You may be able to help your partner consolidate some of that debt to avoid the trap of continuously paying a high interest rate on an outstanding balance or take out a Katy title loan. It may even make sense to talk to a TX debt counselor together so that you can map out a plan that works for both of you.

Don’t Judge

Coming into a relationship with debt can make a person feel self-conscious and ashamed. When you talk about your partner’s debt, be sure to do so in as non-judgmental a fashion as possible. Rather than criticize your partner for racking up so much debt, try to understand the circumstances that led to his or her situation.

Perhaps he or she got laid off and wasn’t able to find work again so quickly. Or maybe your partner had a medical issue a few years back that resulted in a series of sky-high bills. Remember that even responsible people sometimes wind up in debt, and the more understanding you are, the better your partner will feel.

Protect Yourself

As much as you may want to help your partner overcome his or her debt so that you can build a life together, it’s also important to protect yourself. If you’re not comfortable co-signing a lease or car loan with your partner until he or she works on that debt, say so openly.

Similarly, if you’re willing to cover more than your share of the bills so that your partner can use his or her income to tackle that mountain of debt, feel free, but make it clear how much extra you’re willing to pay for expenses you incur together. Establish clear ground rules so that there’s no confusion or resentment down the line.

Offer Support

Getting out of debt, especially in Katy, Texas, often means changing certain behaviors or ways of thinking. If you want your partner to learn from his or her mistakes, be supportive rather than critical. With your help, your partner may learn to spend and save wisely so that you can work toward a secure financial future together.