The truth is money is not easy to handle. But some people are unusually inadequate at keeping their expenses in check. If you’ve been thinking My wife spends too much money, then you’ve come to the right place. Dealing with an Overspending Spouse is difficult, to say the least. Not only it causes significant anxiety, but it also ruins the environment of the house. Moreover, it leads to ugly arguments and fights that can wreck your marriage. You can lose all respect for a person you once loved due to their excessive spending habits. But don’t panic; you can still fix things. Here’s what you can do to halt your partner from wasting your collective money.
5 Ways to Deal with a Partner with an Overspending Habit
It is important to detect the overspending habit early on. The earlier you address the problem, the better are your chances of fixing it. Take a look at some of the best ways to handle an overspending Spouse.
1. Why My Wife Spends too much Money? Understand the Reason
First of all, you need to understand why your spouse overspends. Is this a new change or a previous habit? Are they wasting away money on worthless crap? Or is the purchase reasonable, though a bit expensive? Most importantly, is their Overspending Habit due to a disorder? Yes. Overspending and Compulsive shopping could be a disorder. It is called Compulsive Buying Disorder (CBD) or Oniomania. People with this behavioral disorder have an obsession with spending money and cannot help buying things. They are compulsive shopaholics. If this is the reason behind your partner’s overspending habit, then you’ll need professional help.
Furthermore, excessive shopping, making online purchases, buying worthless crap, etc., could be one of the signs of an unhappy marriage. This is especially true if your spouse developed this habit suddenly and didn’t have it before marriage. It means that they don’t find fulfillment in marriage and are trying to fill up the emotional void by buying things. If this is the case, then you must ponder your part in this problem.
2. Never approach the Overspending Issue with Accusatory Language
Once you’ve identified the cause why your husband or wife spends too much money, it’s time to approach them. The biggest mistake people make here is that they wait too long to have this conversation. And when they do confront their partner, they blow up. They accuse their partner and blame them for wasting away their savings. These conversations stem from anger and frustration rather than understanding.
You should fix toxic communication in your marriage. Offer understanding and compassion to your spouse. Do not blame them. They, themselves, might be struggling with this bad habit, unable to stop. Communication is the key. Approach the subject with a problem-solving mindset. Use loving, kind and gentle language. This gives your partner the message that you are with them instead of against them. Together, you can fix this issue and move on.
3. Fix Financial Problems through Budgeting
The best way to deal with an overspending spouse is to budget. Budgeting is an excellent habit that ensures financial health. It is effortless to make a budget. These days, you can even use the best budget apps for couples. First, keep a record of all your and your partner’s purchases. Review them and point out unnecessary details. You should help your spouse monitor their spending. Rationalize with them regarding why they don’t need a specific thing they think is necessary. Make budgeting an everyday habit. Utilize good money management tips for newly-weds as well.
4. Use Positive Reinforcement to Instill Good Spending Habits
Your spouse might realize the error of their ways and stop wasting money for some time. However, it is entirely possible for them to relapse. That’s why you need to instill good financial habits in them. Use Positive reinforcement for this purpose. Praise your spouse for not spending too much this month. Encourage them to make a better purchase choice. Use Positive and encouraging words to keep up their morale. Moreover, you should also reward them for not overspending. Make sure to hold regular check-ins regarding your financial situation.
Also Read: How dual career family life makes both of you wise and thoughtful in spending money?
5. Cut Credit Cards to Stop Spouse from Excessive Spending
If nothing works out or you realize that your spouse has trouble controlling their compulsive behavior, you should cut their Credit cards. Making purchases through credit cards is one of the leading reasons for bad overspending habits. As opposed to dealing with cash, a person doesn’t realize how much money they spend while swiping a card. This is also why most people end up with exorbitant credit card debts. Get your partner to start using cash. This way, they’ll think twice before spending it on worthless things they don’t even need.
Beware of Financial Infidelity in Marriage
A mere overspending spouse is easier to deal with than financial infidelity. However, if left unchecked, it won’t take long for your partner with excessive spending habits to turn into a full-blown tyrant. Financial infidelity refers to couples who have a combined financial set up to lie to each other and hide debts. They incur multiple debts or blow away the joint savings while keeping their partner in the dark. It is a severe problem, and there are even instances of divorce due to overspending and financial infidelity. Don’t ignore the earlier signs of spending too much. Take action as soon as you notice it. This way, you can save serious trouble down the road.
Excessive spending is a bad habit. And many couples struggle with this issue. It isn’t easy to manage finances, especially when it involves two individuals who might disagree. I have shared some of the best and simple ways to deal with an overspending spouse. Remember to be kind and compassionate if you’re serious about resolving this conflict. Otherwise, your spouse will simply lie to you, which will lead to severe consequences.