Money Matter

One of the many reasons that cause a divorced in marriage is due to debt and money issues. In an article call Escaping the Debt Trap, written by Janene Wolsey, the author wrote, “Debt, no matter how attractively packaged, is a huge trap for many people today. It has proved to be a significant factor in the breakup of many marriages. If couples don’t use their resources wisely, overspending will eventually rob them of their money, time, health, family security, and peace of mind.” This statement is true about debt; however, a couple can avoid this dilemma by working together to make sure that they got it under control by having an open line of communication for all their financial needs and wants.

 One of my favorite author which I bribed all my children to read and give them money for finishing the book is call the “The Total Money Makeover” by Dave Ramsey. He has good ideas on how to get out and stay out of debt. After reading this book, it gives me a different perspective on money. Relationships and money go well together and how you handle or manage your money affect everyone around you. Unfortunately, I did not learn how to manage money growing up the way most people do like how to use a budget. I was raised by my oldest sister who took good care of me by providing shelter, food, and all that I needed to survive.  Money I earned on my own I saved to buy things I want like new clothes for school. One thing I knew for sure, I didn’t have any debt. I bought everything with cash earned through part time jobs and baby-sitting.  It was wonderful. Then marriage came along and things changed.

            Debt to me is a word I dislike very much. It robs me of my freedom and it makes me feel like I am in bondage to my lenders and at any moment they can charge whatever interests they want and I will be obligated to pay back or suffers the consequences. If paid early or on time, the lenders are very satisfied, but if late, it’s on my record and will affect my credit score rate. When I need to get a loan for a big purchase item like a car or a home, they will deny reject my loan due to late payment. This type of debts I am talking about is credit cards debt. Being a young newlywed couple, we didn’t have much and so the 90 days no interest or payment on credit cards offer were exciting for us and we fall for it and bought our furniture, computers, and other entertainment items. Before we can do anything about it, the finance charges go up and we are in bondage to keep making minimum payment until we have enough money to pay it off. My husband and I are in this mess together. We are also blessed to be able to fix this problem without hurting each other. His money is mine and mine is his. We are in this together and we work through it together. We worked hard to pay off all our debts and it wasn’t easy, but it was possible. Simply living on a budget, working together with love and understanding, lots of patience, and setting goals to accomplish our desire to get out of debt till all is paid off increased much happiness in our marriage.

Sources:

“Escaping the Debt Trap” Ensign, August 1996 JANENE WOLSEY BAADSGAARD (Links to an external site.)Links to an external site.https://www.lds.org/study/ensign/1996/08/escaping-the-debt-trap?lang=eng#pop_001-96908_000_005