How to Talk to Your Husband About Debt

Feb 21, 2024

Debt can be a very difficult topic to discuss. There are often a lot of negative emotions associated with debt: shame, anxiety, and despair. Most of us have been taught that debt is bad, and we shouldn't ow other people. But the fact is that almost no one can stay completely free from debt. Many of us want to buy houses. Credit cards are the modern way to do business, even if you pay them off each month. It's common to have student loans and auto loans.

It is so important to be open and honest about your debts with your husband. Even if you feel ashamed about how much debt you have, keeping it a secret from him will not help the situation.

Things might be even more complicated if you fear that your husband will shame you for your money choices.

I was recently interviewed about debt in relationships by Self Financial, Inc., a company that helps people build their credit. My big talking point was that it is important to be transparent about your finances with your partner or spouse, no matter what the situation is.

My comments included advice on:

  • What to do about shared debt if you decide to split up
  • Establishing ground rules for paying down existing debts and incurring new debts
  • How to create a financial plan together
  • Having weekly and monthly check-ins about your finances

If you have debt (or other embarrassing money issues) that you need to talk to your husband about, don't put it off. The longer it goes on, the more difficult it may be to address the situation. And the sooner you get started dealing with your debt, the easier it may be to find a solution.

Check out the article at self: How to Talk to Your Partner About Debt

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