Given today’s precarious and unreliable economy, there are other things that are being cut besides government funded programs and federal spending.
Surprisingly, people have began cutting their spouses and significant others as a way to save money and decrease a deficit of their own. According to Slate.com, men have suffered a whopping 82 percent of the nation’s unfortunate job loss epidemic, and statistics show that 25 percent of women out-earned their significant other in 2009. If love didn’t cost a thing before, it’s costing a lot more these days.
Traditional gender role stereotypes are being broken down as the age old rules for the dating game are beginning to change, given that women are now more likely to make more money than their significant other. It used to be expected for a man to provide and care for a woman. However, in current times, dinner bills are split between both individuals, and in some cases, women are footing the entire bill for outings and additional expenses.
Today, 83 percent of women report being stressed about money along with 78 percent of men who reported being stressed about money since it is more common for women to be fully supporting men nowadays.
According to a poll done by Cosmopolitan magazine, 59 percent of women would hesitate dating a guy because of his financial status, while 62 percent say they would keep a man’s “lackluster job status” a secret, and 72 percent of women would downplay their accomplishments if their man was underemployed or unemployed.
Given this information, it is safe to say it would not be uncommon for single women to lower their standards and qualifications when it comes to finding a mate.
Unmarried, committed relationships have taken many blows. Financially strapped relationships can create a domino effect leading to many other problems such as resentment, cheating and stress.
Couples have resulted to moving into their spouse’s parent’s house as a way to save money or because they simply cannot afford to live together.
Couples are also going out less to save money unless the event itself is of low cost. With very little money to spare, even a simple movie outing or dinner can hurt your wallets.
Rising gas prices are also contributing to couples spending less time together outside of their homes which can cause both individuals to become restless.
As budgeting and saving in a relationship becomes important now more than ever, if you are involved with someone who is high maintenance and materialistic, it’s either time to padlock their credit cards and agree on a financial plan, or call it quits.
Financial responsibility shared among a couple increases when they decide to live together. Living or sharing finances with someone who is listless with money can cause damage to your financial future as well as the relationship itself.
That, in addition to money playing a key role in relationships, and credit scores are increasingly becoming a make or break topic when it comes to relationships as well.
In the past, a person’s credit score was not even thought of when embarking upon the road to happily-ever-after.
However in response to the unemployment rate and layoffs, credit scores have plummeted because people are unable to pay their bills on time, or at all. Since a credit score largely affects your life, it is important that scores among both individuals are shared with one another.
If your partner’s credit score is not in good standing, it affects whether the two of you can purchase a house, obtain loans, interest rates you pay on various bills and credit cards, the payment of a car and ultimately the amount of rent you pay each month. Surely you would not want to be with someone who increases any of those factors and you would not want to be punished for your partner’s past financial mistakes.
Many marriages have taken devastating hits as well. Unexpected layoffs and financial difficulty has become the grounds for many divorces, as money, which is a crucial and critical issue in any marriage, becomes a strain and can be followed by depression.
With such an unhappy environment, it is no wonder why one would want to leave. However without money as a support system to fall back on, many couples leave a marriage with less than they had to begin with.
When divorced or legally separated, many cannot afford to live separately and must still remain residing in the sole residence. This can create tension in the house especially if the legal process is ugly.
Following a divorce can get just as messy. As the person who receives majority of the income may leave, the other person is stuck with a mortgage and financial expenses that they cannot afford which can result in foreclosure.
Leasing an apartment can be a difficult for a family to make, in addition to the split. Assets, such as investments and retirement accounts, which the couple may have accumulated together during the duration of the marriage, could not be as valuable because of the timing.
As a result of this many couples report feeling poorer than they were before the marriage. Parents are not the only ones who suffer the pains of having less money to spare. Child support payments are being decreased to adjust to the financial situation of the parent. In addition to this, health insurance is becoming a problem as the family separates, and premiums increase and become too high for one parent to pay alone.
Given these facts, it is safe to say the cost with or without love is too much to bear.
Think twice before attaching your wallet to your heart and giving both away.
Tamika Thompson, Assistant Tempo Editor
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