Financial Analysis: Free Review of Couple’s Finances
Money troubles can cause a lot of tension and stress in a marriage. According to a study published in the journal Family Relations, disagreements about finances “predicted divorce more strongly” than anything else. Spending and saving habits may be drastically different between partners, causing conflict. One or both partners may have individual or joint debt that is causing hardship.
Taking a hard look at a couple’s finances isn’t always the easiest thing to do. But, it can alleviate a lot of stress now and headaches down the road. Here are 3 reasons free financial analysis (also known as credit counseling) from an accredited nonprofit, like Apprisen, can help your marriage.
The No Judgement Zone
You’ll face your finances head-on in a nonjudgemental space. During a custom financial analysis, we take a complete look at your unique financial situation. It can sometimes be difficult to do this as a couple. This is especially true if there are aspects of your finances you haven’t shared with your partner. A financial specialist can be a neutral, non-judgmental third party that can help you assess where you truly are. Then they can help you create an action plan to help you move forward into greater financial stability.
A Custom Sustainable Budget
With with the assistance of a financial specialist, you’ll create a sustainable budget that you can both live with. Part of a financial analysis is evaluating your budget and making recommendations. Essentially, couple’s finances are assessed as a whole. As a result, you’ll get a free action plan that includes a proposed budget. It can be helpful to have a knowledgeable third party make budget recommendations. This can reduce conflict by balancing the approaches of a partner who spends more versus one who spends less.
A Debt Management Program can help you get your debt under control, reducing stress in your relationship. Stress and uncertainty about money can bubble over into other areas of the relationship, causing increased conflict. Apprisen’s Debt Management Program (DMP) is a structured way for couples to repay their unsecured debts at reduced interest rates. In many cases, it lowers your overall payment amount as well. Enrolling in a debt management program is a great way to reduce stress, streamline your payments, and start both of you on the journey to becoming debt-free! If you want more help with your financial goals as a couple consider IRIS, a free online financial analysis app. You’ll also get a free custom financial action plan, prepared by a financial specialist.