I am writing this article on Valentine’s day, which has focused my thoughts on what I view as one of the essential ingredients for a long and happy relationship. It is estimated that financial problems contribute to 20-40% of divorces, which indicates that out of 10 marriages that end in divorce four of them are due to money issues*1. This means that keeping finances in order helps to ensure better relationships.
Our finances play a big part in achieving our goals and again 39% of adults (20.3 million) don’t feel confident managing their money, about 11.5 million have less than £100 in savings and nearly 9 million of us are in serious debt, and only around a third receive help.*2
So what would my advice be?
In considering that it plays such a big part of our lives if finance is an issue, then it may be time to seek some help. As the saying goes, “A problem shared is a problem halved”, whether it is through an adviser or a counsellor. I have often said that I see my job as a sounding board and often even in our work environment I have used counsellors as they can act as referees so that both sides are able to air their views.
We offer a free without obligation consultation, so if you would like some advice why not pick up the phone and book a free consultation. Even if you have no financial issues, booking a consultation at the beginning of a relationship that could be long-term, could be beneficial, so that you can plan your future and put some strategies in place for your financial plans and how they can be achieved.
*1Jimenez Law firm, 29th Dec 2022
*2Money and Pensions, 2024