No Credit Check :: Articles
SHARE

Share this article!

Love and Money: 5 Costly Mistakes You Should Avoid During Financial Stress

Love and Money: 5 Costly Mistakes You Should Avoid During Financial Stress

Love can make you do silly things, and when financial pressures bite, it can be tempting to make some desperate decisions.
Recent research from Finder has revealed some of the most common romantic mistakes people make during a cost-of-living crisis.
Here are five of the worst, along with some tips to help you avoid them.
  1. Lying to Your Partner About Spending

According to Finder's money expert, Sarah Megginson, 9% of us have lied to our partner about our spending habits. While it's okay to splurge on the occasional night out, repeatedly concealing debt and purchases can erode trust and harm your relationship. It's essential to establish money rules and agreements that work for both partners.

  1. Concealing Your Debts

Lying about your debts is an even bigger mistake, as it makes it impossible to get your finances under control. Acknowledging your debt is the first step towards creating a realistic budget and setting yourself up for financial security.

    Need some money to buy a car?
    If you are in the market to buy a new or second-hand car, we can help you find the money! We can help you to establish your borrowing bower with our free online car loan and car lease repayment calculators, and to get you qualified for a car loan with our free online car loan eligibility assessment. We can help you to choose the right loan from multiple lender offers and we can get your car loan approved or preapproved via our Australia-wide, specialist car loan finance broker panel. Fast, free and easy.
  1. Borrowing Money From Your Partner

Begging your partner or ex for money to help cover costs might seem like a good idea, but it can have long-term consequences. If you're unable to repay the debt, it could damage your relationship and make future financial goals more challenging to achieve.

  1. Staying with Someone to Avoid Housing Costs

With housing costs skyrocketing, staying with a partner to save on rent or mortgage payments can be an attractive option. However, it's crucial to be honest about the situation and work on building up your savings, so you can eventually achieve financial independence.

  1. Restarting a Relationship to Cut Costs

Rekindling an old flame to save on living expenses might seem like a money-saver, but it can be a false economy. Couples health insurance, for example, isn't cheaper than individual coverage. If financial security is the only reason you're in the relationship, it's already on shaky ground, and you're better off relying on yourself.

In conclusion, financial security should always be your ultimate goal, and while a partner can help you achieve that, it's crucial to make sure you're not sacrificing your long-term financial health for short-term gains. By avoiding these costly mistakes, you can build a stable financial future and a strong, healthy relationship.

Published:Wednesday, 22nd Feb 2023
Author: Paige Estritori

Share this article:

Time for a 2nd opinion on your Home & Contents Insurance?
We now offer a nation-wide panel of specialist Household Insurance brokers ready to help you lock down the best value home and contents insurance solution - tailored to your individual needs and guaranteed to save you money!

Finance Articles

Choosing the Right Loan for Your Personal Needs in Australia Choosing the Right Loan for Your Personal Needs in Australia
Choosing the right loan can be a pivotal decision in your personal financial journey. In Australia, where a diverse range of loan options is available, selecting the loan that aligns perfectly with your needs is more crucial than ever. A judicious choice can help you fulfill your dreams—be it buying a new home, investing in education, or consolidating debt—while ensuring that the repayments remain manageable and do not lead to financial strain. - read more
Understanding Your Credit Footprint: Borrowing Strategies to Keep Your Score Intact Understanding Your Credit Footprint: Borrowing Strategies to Keep Your Score Intact
Understanding the mechanics behind credit scores is pivotal for anyone navigating the intricate world of finance. A strong credit score does not only unlock the gates to a plethora of borrowing options but also secures favorable interest rates, which can save you a substantial amount of money over time. It acts as a financial passport, one that enables you to achieve milestones such as purchasing a home or car with ease. - read more
Budgeting Basics to Keep Your Credit Score Healthy While Seeking a Loan Budgeting Basics to Keep Your Credit Score Healthy While Seeking a Loan
Understanding the nuances of financial health is a crucial component in the journey of loan acquisition. It is the bedrock on which potential borrowers build their case for credibility and reliability. Among the myriad of factors influencing your fiscal stability, credit scores stand out as a beacon indicating your creditworthiness to lenders. A robust credit score simplifies the path to securing loans, garnering favorable interest rates, and negotiating better terms. - read more
5 Smart Money Tips for Australians to Thrive Financially in 2023 5 Smart Money Tips for Australians to Thrive Financially in 2023
As we are entering the new year, it's important for Australians to start thinking about their finances and how they can make the most of their money. Here are five smart money tips for Australians in 2023: - read more
Good Debt Versus Bad Debt Good Debt Versus Bad Debt
Some people see debt as a curse. Others see it as a friend. Debt can make you miserable, or it can be used to make you wealthy beyond your wildest dreams. The trouble is, how do we know what is good and what is bad? - read more
Master the Art of Savvy Shopping: How Australian Consumers Prioritize Quality and Value in Today's Market Master the Art of Savvy Shopping: How Australian Consumers Prioritize Quality and Value in Today's Market
As prices continue to soar and interest rates climb, Australian consumers are showing their savvy shopping skills. According to a recent survey conducted by Criteo, titled ‘The Rise of Savvy Shoppers Study’, consumers are prioritizing essential purchases such as fuel, groceries, energy bills, and rent/mortgage payments in the last six months. - read more
5 Credit Killers 5 Credit Killers
A good credit score speaks volumes about your financial habits. It's the evidence most creditors need to evaluate your credit worthiness. - read more
Choosing the Right Bank Choosing the Right Bank
Financial institutions are located all around the world. If you are looking to open a bank account, whether that bank account is a transactional account or a savings account, you have a number of banking options. - read more
The Four Golden Rules Of Personal Finance The Four Golden Rules Of Personal Finance
As long as you're alive, you are a player on the field of the 'money game'... and you'll need to know the basic rules before you get tagged by the more experienced players! - read more
Simple Tips On Getting Your Loan Simple Tips On Getting Your Loan
So, you want to get a loan? Here are some simple tips that might help you make more informed decisions about the type of loan you buy, and from whom. - read more

Finance News

Merger Approved: ANZ Set to Acquire Suncorp Bank Merger Approved: ANZ Set to Acquire Suncorp Bank
21 Feb 2024: .Paige Estritori

In a pivotal ruling, ANZ's bid to consolidate with Suncorp's banking division has been granted permission, marking a significant evolution in Australia's banking landscape. The Australian Competition Tribunal (ACT) delivered a positive verdict for ANZ's $4.9 billion acquisition, challenging the earlier decision made by the Australian Competition and Consumer Commission (ACCC), which had raised concerns about market competition last August. - read more
Revitalizing Australia's Grocery Market: A Push for Diverse Ownership Revitalizing Australia's Grocery Market: A Push for Diverse Ownership
21 Feb 2024: .Paige Estritori

Nationals leader David Littleproud has initiated a call to action that may reshape the Australian grocery landscape, currently dominated by supermarket titans Coles and Woolworths. Amid revelations of the supermarkets’ aggressive business strategies, there is a growing clamor for policies that could see these chains relinquish some of their stores to enhance market competition. - read more
Australian Shares Dip Slightly Amidst Varied Sectoral Performances Australian Shares Dip Slightly Amidst Varied Sectoral Performances
21 Feb 2024: .Paige Estritori

In a day marked by contrasting sector performances, the Australian Securities Exchange (ASX) witnessed a minor fall. With notable fluctuations in key industries such as mining and finance, the market revealed the complex interplay of corporate and economic dynamics. - read more
Banks Shift Focus: Major Cutbacks on Cash Services Revealed Banks Shift Focus: Major Cutbacks on Cash Services Revealed
19 Feb 2024: .Paige Estritori

In a strategic pivot that mirrors the broader industry trend away from traditional banking modalities, ANZ, one of Australia's leading members of the 'big four' banking groups, has notably withdrawn cash services from several of its branches in metropolitan Sydney. This move has sparked considerable discourse, highlighting customers' concerns amid widespread alterations in the banking landscape. - read more
How Are Our Banks Handling Vulnerable Clients? How Are Our Banks Handling Vulnerable Clients?
17 Feb 2024: .Paige Estritori

In a world where financial safety is paramount, the crucial balancing act between respecting Powers of Attorney (POA) and protecting vulnerable customers becomes increasingly challenging. Financial institutions adhere to a code of practice obliging them to be vigilant against abuse, particularly financial elder abuse—a serious concern that brings to the fore the question of due diligence and customer safeguarding practices. - read more
Central Bank Chief Signals Concern Over Inflation Excuse for Price Hikes Central Bank Chief Signals Concern Over Inflation Excuse for Price Hikes
16 Feb 2024: .Paige Estritori

Central Bank authority Michele Bullock recently indicated concerns that current inflationary pressures could be providing businesses with an excuse to increase prices disproportionately. While presenting to Senate Estimates, the Reserve Bank Governor shed light on the potential misuse of high inflation as a reason for escalating costs, although she refrained from directly accusing top-tier companies of engaging in unjustified price surging. - read more
Job Seekers Face Stiff Competition as Applications Soar Job Seekers Face Stiff Competition as Applications Soar
15 Feb 2024: .Paige Estritori

Recent data reveals an alarming surge in the ratio of job seekers to available positions in Australia, indicating potential challenges ahead for the employment market. This insight comes juxtaposed against the broader economic indicators released in the Reserve Bank of Australia's latest Statement of Monetary Policy. - read more
Banks Issue Cost of Living Warnings as ASX Dips Once More Banks Issue Cost of Living Warnings as ASX Dips Once More
15 Feb 2024: .Paige Estritori

The Australian Stock Exchange (ASX) continued its downward trajectory, marking a third consecutive day of losses amidst warnings from leading financial institutions regarding escalating living costs. The primary focus of attention has been the drop in cash profit reported by the Commonwealth Bank, which sent ripples across market confidence and contributed to the bearish sentiment. - read more
Outback Lifeline: The High Cost of Cash Delivery to Remote Areas Outback Lifeline: The High Cost of Cash Delivery to Remote Areas
14 Feb 2024: .Paige Estritori

A week's worth of expenses for Australia Post has been highlighted in a recent submission, showcasing the financial strains of ensuring cash availability in distant locales. The necessity of such services has been emphasized, yet the current model reveals a need for future change. - read more
AMP Advisory Representative Disqualified for Conflict of Interest AMP Advisory Representative Disqualified for Conflict of Interest
14 Feb 2024: .Paige Estritori

Regulatory repercussions have unfolded following the conduct of a former financial adviser affiliated with a leading financial planning network. The individual, Darren Mink, previously connected with AMP Financial Planning Pty Limited (AMPFP), faced a substantial professional ban after comprehensive evaluations by the Australian Securities and Investments Commission (ASIC). - read more

Need Help Finding a Loan?
Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check!
Loan Amount:
Postcode:
All finance quotes are provided free and without obligation. We respect your privacy.

Knowledgebase
Balloon Payment.:
A large loan repayment made in order to clear a debt. Usually applied to a short-term fixed-rate loan, which involves small payments for a certain period of time with one large payment for the remaining amount of the principal at a time specified in the future


Quick Links: | Personal Loans | Car Loans | Bike Loans | Boat Loans | Truck Loans | Home Loans | Business Loans | Debt Consolidation