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The financial side of living together

Without the essentials of wealth education, love and money spells nothing but trouble for a lot of couples. The reason isn't always due to a lack of money or a person's spending habits. Rather, trouble is often attributed to unrealistic expectations about love and gripping emotional fears involving money. It is how people decide to communicate about money that is often the problem. That said, when two people live together without the legal benefit of marriage, or if they are newlyweds, agreements on finances must be reached for the relationship to survive. When issues surrounding finances are communicated early and a proper understanding of how finances will be handled is reached, often, love and money spells comfort.

Love conquers everything except the rent, utilities and grocery bills

When couples first fall in love, it is believed that the feelings they share for each other will be sufficient to overcome any and all obstacles that they may encounter during their future together. If these attitudes prevail, love and money spell disaster. Reality stays reality, regardless of how in love you are or aren't. That is, bills need to be paid, wealth education needs to be a priority and expectations about the way that money is spent needs to be clearly understood in order for either of these to be successfully navigated.

Love means budgeting together

Even prior to a couple moving in together, a household budget needs to be created. Couples also need to be open about income, commission payments, any and all income that they receive every month. Also, car loans and other installment loans should be discussed. This includes any existing payday loans and cash advances. Those finding themselves regularly getting payday loans should discuss it as well, so the budget can be adjusted to better manage debt. Though payday loans are helpful when fast cash is needed for emergencies or unexpected expenses, a person who is constantly applying for online loans, or who has trouble living off of their current salary, has to be honest about their budgeting choices. If someone is paying child support, spousal support, or any sort of dues, all of this has to go into a budget as well.

At this point a couple can realistically look at what each can afford to pay towards bills and other costs. Often people are uncomfortable with having conversations like these because they do not want to pry too deeply into the other’s private financial life or they want to pretend that money does not matter to them. Others fear revealing their past difficulties with debt, installment loans, bad credit, cash advances or payday loans being part of their recent history. It is exactly the presence and continued existence of this kind of denial that begins to spell disaster for both love and money.

Love and money spells security for those unafraid to face the facts

One of the first lessons in wealth education for individuals, as well as couples, is to be honest about what one earns, what one can practically afford and how much each person needs to save in order to reach their financial goals together. Couples moving in together with the object being to save up for a home, vacation every year and no stress nor strain isn't reasonable unless and until the good work has been done and realistic plans have been made. Too many couples found themselves at odds over money because they didn't bother to discuss and exercise wealth education before their futures and finances were entwined.

Loving each other requires commitment to growth and honesty. Both are threatened if finances are unclear and a plan hasn't been created, or if the role each is to play financially hasn't been defined. Couples who understand the vital nature of these matters, love and money provide security.

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