This is a guest post from Yaakov Smith, Founding Manager of Logican Solutions
How would you broach the topic of debt with your loved one? You may have noticed worrying behavioural patterns in your partner, such as overspending and a lack of regard for budgets. You might feel that it is your responsibility to let your partner know that you are present, and willing, to help.
Despite your good intentions, debt is a difficult area to navigate. You may be worried that your partner could get defensive or even angry, but don’t feel like you are overstepping your bounds. At this time, it is likely that your partner is looking for help and guidance. They may not know where to start. They may feel ashamed or withdrawn as a result. The best possible thing you can do for your partner and for their financial future is to address the situation head-on and offer a helping hand whenever you can.
Before going full steam ahead, read this article and prepare yourself. It is important for us as a society to overcome the taboo of debt, but money-related discussions should be sensitive and considered. Only once you get everything out in the open can you begin to explore debt management options.