A Spendthrift Spouse

Many people pose as though they are rich and have unlimited financial resources; in many cases this is not true and these people have only limited money. If you give them a dollar they will spend that money in a jiffy. There are others who will be spending one dollar plus by borrowing the extra money from various sources or by cheating people. If you are an unmarried person overspending will damage only you; if you are married this kind of spendthrift spending will destroy the whole household and also the marriage.

Many marriages fail and end up in divorce because of the financial indiscipline of any of the partners. It is better if the couples have the same financial goals and are willing to pursue those goals methodically. Normally people don’t even think about or talk about finances prior to marriage. Because of this any differences in spending pattern has to be sorted out only after you get married.

Any of the spouse spending money indiscriminately without any consideration to the household budget could cause intense distress; People of this nature exhibit behaviors as follows:

	Spending all incomes (including bonuses and unexpected income) earned without any savings
	Purchase items which are not required at present
	Purchase high cost items without having necessary income
	Least bothered about savings for tomorrow
	No financial planning for future
	Overspends on holidays
	Spending money without the knowledge of the spouse
	Habit of withdrawing any meager savings

If one of the spouses is a spendthrift the consequences of this is also reflected on the other. It is very common to find a household running into serious financial problems because one spouse is extravagant. In case either of them spends all the money earned they will find themselves in trouble in the event of any emergency situations. For example, if the car breaks down or the roof is leaking and requires repairs, they are forced to borrow for such expenses.

Talking About Money

The most important thing in any household is the method of handling the net income of both spouses. Husband and wife should understand the total earnings of the household and also expenses involved. They should review the income and expenditure and prepare a savings plan for their future. In case your spouse does not cooperate you can always find ways and means of saving money. Some ways are as follows.

	Automatic deductions from a check that go into savings
	Automatic withdrawals from checking into savings
	Separate savings accounts that are difficult to access

You may have to spend certain amount on pleasure items when your spouse is a spendthrift; this adjustment has to be made by you since the money belongs to both of you.

It is foolish to call your spouse as a spendthrift or any other name even if he or she is a spendthrift. Nobody likes to hear such accusations and the tendency will be to justify their actions. The whole thing has to be handled more diplomatically. The best way is to discuss calmly with your spouse the details of the household income and expenditure and make him/ her involve in making a practical budget which is acceptable to both of you. While preparing the budget you will be identifying priority items and once you allocate resources for priority items you can look at other items. Some give and take may be necessary in preparing this budget but in this process you must be able to convince your spendthrift spouse to drop non-priority items. During this process you should explain how overspending affects you emotionally and also the budget.

Dealing with Financial Consequences

In case you are living with your spendthrift spouse you will be bearing the brunt of the consequences of your spouse’s indiscriminate purchases. You may be bombarded with collection calls and new bills in the mailbox. You will not have enough money to pay for your household expenses. Under such circumstances you can take the following actions.

	Get the help of a financial counselor
	Seek credit counseling assistance
	Make a repayment plan for debts in consultation with your wife and prevent new debts

There is no straightforward solution for solving the problem of your spouse’s overspending. However it is essential to handle this problem carefully to make sure that your marriage does not get into trouble. Many divorces occur due to financial problems and hence by solving this problem you could stop divorce from happening.