Experts Warn 3 Rate Rises Are Straining Couples as Mortgage Stress Fuels Money Conflict
Updated
Updated · ABC News · May 19
Experts Warn 3 Rate Rises Are Straining Couples as Mortgage Stress Fuels Money Conflict
1 articles · Updated · ABC News · May 19
Three successive rate rises are intensifying mortgage stress, with debt counsellors and relationship experts saying cost-of-living pressure is driving more conflict between partners.
Interest-rate, fuel, grocery and insurance increases are exposing differences in spending habits, values and risk tolerance, while credit-card debt, utilities and personal loans are also emerging as pressure points.
Experts say couples should first track all household income and spending, then cut non-essentials—Heales says about $10,000 a year can disappear through roughly $27.40 a day in small purchases.
Money talks work better when they focus on fears, goals and debt plans rather than a single argument, and advisers say transparency is essential before couples make financial decisions together.
For households already in trouble, experts recommend neutral third-party help such as financial coaches, counsellors or the free National Debt Helpline, warning debt problems usually worsen if ignored.
When budgeting isn't enough to combat inflation, what is the ultimate solution for couples' financial stress?
What hidden childhood money beliefs are unknowingly fueling your financial fights as a couple?
Could navigating severe financial hardship paradoxically forge a stronger, more resilient romantic bond?