Money is the root of all evil if it motivates us to do wrong things such as theft, cheating or abusing others. We may also buy overpriced and useless things such as expensive cars, perfumes or jewellery and this also represent not the best use of money. On the other hand, money can improve the quality of our life and also money affect relationships. If we are not extremely poor we can afford proper food and clothes, accommodation, transport and other basic needs that make our life more pleasant than if we were living in poverty.
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Money affects relationships in complex ways
The way that money affect relationships is not always cut and dry. The way a person handles their own personal finances will have an impact on their relationships. But different financial realities mean different levels of commitment and understanding of financial responsibility.
This complexity means there are myriad ways that money affect relationships, some of which are more positive than others. Financial difficulty can have an adverse effect on friendships or cause spouses to withhold emotional support from one another, leading to resentments and arguments over finances. However, money problems can also bring couples closer together in times of struggle: facing any challenge as a team provides a valuable opportunity for growth and appreciation for one another.
When you enter a relationship with someone, it is important to consider the potential effects money could have on your relationship. Relationships do not exist in a vacuum. More often than not, there are aspects of each person’s identity or environment which might impact their relationships. Sometimes, that aspect is money. Money has always been one of the most highly debated topics as it has many layers including how financial power can affect gender power dynamics as well as issues such as socioeconomic status and privilege.
There are more pitfalls than advantages when it comes to integrating money into a relationship so before you make any decisions on how you share finances with your partner, consider speaking to a financial advisor or even hiring someone as an intermediary to advise you both on your respective spending habits and goals from the early stages of dating onward.
Wealthy marriages are more successful
Marriage is one of the most high-stakes things that humans participate in. Simply put, it doesn’t get any more high stakes than a relationship between two people where both are vying for dominance and power. Sadly, when money gets added to the mix, many couples can lose sight of what matters most: each other. Money can end up dictating their behaviour and potentially even things like who moves away from the couple to find a job in another city or who stays home to take care of the kids or ageing parents.
Wealthy aims to bridge the gap between couples’ finances in order to provide a better marriage foundation. Allowing partners to focus on each other as well as their individual needs, while also taking care of each other’s emotional needs by participating in joint financial decisions, setting financial boundaries and discussing their expectations on money matters related to family dynamics etc.
It’s estimated that the average American is going to spend over two years of their life looking for a romantic partner. That time spent could have been spent on something else, something more productive than an empty quest. A happy marriage is something worth spending money on. But spending money on it may not be something you know how to do or even want to do. comWealthy does all the hard work for you, making sure there are no outstanding financials preventing your relationship from growing together.
Money is not a substitute for love
As one of society’s key motivating factors, money has an undeniable effect on people’s relationships. People have been led to believe that love has value and worth only if there is money involved. Today, many couples will marry each other simply because they’re both successful earners or because their wedding would look good. Now more than ever, people are dating not because they want to spend the rest of their lives with someone but simply because they want someone who makes them look wealthier. Love is even being sold on social media sites like Tinder where some men or women only seek those who are financially capable.
Also Read: What is Active and Passive Investing?
As Valentine’s Day approaches, remember that love doesn’t equal money as much as marketers want you to believe so. It’s okay to love someone without expecting anything in return. Falling in love with another human being shouldn’t need a price tag attached to it; loving unconditionally should come without any conditions.
While there is a belief that money brings happiness, research actually shows otherwise. Studies on poverty and wealth show that after an income level of $75,000 per year, there is little correlation between money and happiness. The bottom line is we want more than just monetary fulfilment: we want connection, intimacy, personal growth, and contribution to the world around us.
Get connected with love again. Spend time with friends. Take up meditation or go on a vacation. In other words, do anything to shift your mindset away from materialism as a means to an end because love trumps money every single time.
Money brings out the worst in people
Money has a way of making even the most beautiful person seem ugly. Cash really has a way of changing someone’s perspective. People will say or do anything when they feel threatened, or as if they’ll lose money. Jealousy is rampant as well as greed and rage.
Sometimes it seems like there is no way to enjoy the good things in life while money is present- regardless of how much money you may have (or how little). The simplest answer would be to remove money from our lives completely- but that would also mean removing jobs, school, and love! Luckily, there is another solution: spending less time around people. Do this by spending more time alone on vacation at home or travelling abroad so you don’t encounter anyone that may try to spend your hard-earned cash from you.
The pressures that arise when you lack financial resources can take an emotional toll on anyone. Financial concerns often end up dominating a person’s life, detracting from the health and happiness of one’s family. There are many options for handling money difficulties, but I have found peace with Wealthcare Planning Services. Here I am able to explore various strategies for attaining peace about my finances so that I am able to take care of my family.
Money can create jealousy in relationships
Jealousy is not something anyone likes to feel, but unfortunately, jealousy can very much creep into a relationship when one partner makes more money affect relationships than the other. When this happens, it’s important to recognize and confront the problem as soon as possible before that jealousy leads to anger or sadness which then might lead to broken trust, false accusations and even an emotional affair.
Also Read: Define Your Relationship with Money?
The solution is actually surprisingly simple, when one partner brings in more money than the other partner, simply split household costs so that both partners contribute equally to cover the monthly budget. This allows couples to experience how it feels when they’re contributing equally rather than letting the uneven income create unhealthy competition or resentment.
People may become resentful towards their partners if one of them makes more money than the other. For example, both members of a heterosexual couple may view the income of their partner as their own: if one person earns $50,000/year and their partner earns $25,000/year then the higher earner may feel taken advantage of and made to take on a greater portion of household responsibilities such as childcare and household tasks without feeling like they’re being compensated accordingly for the additional work.