Debt and Marriage – How Paying it off Makes You Happier

According to, seventy percent of Americans enter marriage with debts. Purchasing a home, furnishing your nest, honeymoon, and the wedding itself expands these debts.

But during the wedding, couples promise each other to be there for better and for worse. Debts and other financial issues are the primary causes of divorce in many marriages. Marriage and debt have a very rocky relationship.

Your marriage might be at risk too if you fail to agree with each other on the right steps towards paying off your debts. Avoiding materialism and keeping your debts low helps avoid money quarrels that result in divorce.

Many couples end up in money and debt quarrels because they don’t talk about their finances. Money is a tough topic to discuss among many couples. That shouldn’t be the case with your marriage. You need to talk about money and future financial goals to save your marriage.

How to prevent debt issues from taking your marriage

If you are on a path towards marriage, you are lucky to be getting tips that will save your relationship at the right time. If you’re in a marriage that is struggling with financial issues, don’t worry, these tips will help keep everything straight.

1. Be open to each other

Lovers shouldn’t be hypocrites. What you’re hiding today to save your relationship is what will destroy your marriage in the future. Talk about your assets, credit cards, debts, and financial goals. Don’t wait for tomorrow. Let your partner know the truth today.

Don’t blame your partner for having higher unreasonable debts. Everyone makes mistakes in life. A marriage merges both of you into one entity. Her or his debts become yours too. You need to set strategies on how to pay them off.

Make decisions on the ways you’re going to use to clear the debts. Decide on how much you will be paying every month.

2. Live below your ego

Humble yourself and forget what other people think. You have a debt to pay, don’t spend your money unreasonably. Don’t take a loan to go on a trip. I don’t mean debts should make you not enjoy life together, but why not clear them first. You can’t enjoy anything when debt collectors are issuing threats.

With the correct strategies, you will be able to pay the loan sooner. After clearing your debts, you can now go on vacation, but don’t forget to save for your future.

3. Look forward and set regrets aside

It has already happened, you can’t reverse it. You have to accept and move forward. Don’t focus on thinking about how your life would be like without debts. Focus strengthening your strategies to pay off the debt. Regretting will do nothing but discourage you and make it harder to overcome your financial struggles.

4. Spend time with your loved one

Your relationship is there to exist. Debts are temporary. Today you are struggling with debts, but your tomorrows are great. Having debt makes you learn a lot. It teaches you how to be humble and how to save.

Talk about your financial goals. What do you want to do after clearing the debt? Having mutual financial goals will strengthen your relationship. Staying away from your partner will worsen the situation.

How paying debts makes you happier

5. Financial security

Many couples save what they were spending on debts for kids’ college education, starting a business, and retirement. After clearing your debts, you’re able to put effort into becoming financially secure. Being financially stable brings happiness in relationships.

6. Freedom to spend on what you want

After clearing your debts, you will no longer feel guilty of spending on what you want. Paying debts leaves many couples without enough money to spend on what they enjoy.

Some couples are piling debts because they don’t have enough money to purchase what they want. The best way to avoid piling debts is by paying your current loans.

When you have no debt, you can go on a trip to Iceland and enjoy it. Going for such trips when you’re struggling with debts won’t bring you any happiness because you’re stressed.

7. Improve your credit score

Not paying your debts on time lowers your credit score. Being debt-free raises your credit score. With a higher credit score, lenders will be competing for you in case you need a loan in the future. A high credit score makes you qualify for higher mortgage loans.

8. Own assets

The bank owns your home until you clear your mortgage loan. If you are on an auto loan, your classy car isn’t yours. It belongs to the lender. Paying debts makes you fully own your assets. You can do whatever you want with your assets because you’re the sole owner.

9. Reduce stress

After paying your debts, you’re no longer living in the mercies of the lender. No one is there to issue you with threats. Constant stress leads to migraines, heart attacks, and other health problems. Paying debts promotes your well being.

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