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How to handle family conflicts related to finances

In families it is common to have problems related to money, be it much or little. The human being can be very greedy and not think about others. But also, family conflicts related to finance have to do with lack of organization or different points of view.

That’s right, because if for example some members are wasteful and others thrifty, there can be problems and discussions. Next, we will tell you how to handle these situations.

Family conflicts related to finances: the couple

How to handle family conflicts related to finances

Marriage is supposed to be a union where everything is shared and that also includes money . Although today many couples choose to ‘pay theirs each’, the truth is that in most cases the profits are combined and everything comes out of the same place.

In the couple many problems related to money can arise. In fact, it is one of the main issues that provoke discussions and separations. And this is very related to the objectives and habits that each one has.

That’s right, because if for example one considers certain expenses ‘essential’ and the other ‘unnecessary’ we will generate a conflict.

There are also problems when one earns more than the other and has the attitude of ‘I am the one who commands’ because money is a symbol of power . This is undoubtedly unfair and wrong.

To avoid couple conflicts related to finances as a first step it is important that they talk and reach an agreement. How much will be available for the common expenses, for the savings and for the ‘additional’ that each one wants to spend.

It can also be helpful to make a ‘common fund’ no matter how much each one earns, make a list of detailed monthly expenses and review the budget every two or three months. Clear accounts can reduce friction and unpleasant moments.

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Family conflicts related to finances: inheritances

How to handle family conflicts related to finances

How many families have been destroyed because of inheritance or property? You do not have to be a millionaire for this kind of thing to happen. We can receive money without expecting it and that it becomes a destructive family conflict. The same if we have a flat, a car, a field or even furniture and other belongings.

Surely you know several cases of brothers who fight ‘to death’ for what they receive when their parents die or cousins ​​who do their best so that their relatives do not inherit something from their grandparents.

Family finances when you have business together is another very recurring theme. For example, if a father and a son open a store (or the first the foundation and the second continues) it is likely that friction will not take long to appear.

How to act in these cases? It is true that you can not know how the other will react when there is money involved, but it is always good to anticipate the facts.

When everything is ‘in harmony’ it is the ideal time to talk about certain complicated or taboo subjects (all families have them). Bringing them to light does not make us bad people, just the opposite. We will be looking for solutions and being cautious.

If you can not reach an agreement, you can always use an external professional, such as a lawyer, to limit profits or organize properties and inheritances.

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Family conflicts related to finances: credits

Another reason that leads to family conflicts are the loans of money between parents, brothers , uncles, nephews or the kinship that comes to mind. Although we all belong to the same family does not mean that we have the same skills or habits.

Even among siblings who have been raised in the same way, one can be successful and the other be continually one step away from bankruptcy . But beyond that, the truth is that when someone decides to lend money to a family member, there can be conflicts that lead to fights and breakups of relationships and treatment.

Even if someone borrows a certain amount and is denied (for various reasons) that is already cause for problems. And if the loan is granted but not returned in time and form, it can ‘burn Troy’ as it is popularly said.

On many occasions, it is preferred to request a loan from a bank than from the family members themselves. A parent or grandparent may not ask for references or charge interest (or if), but the weight that can be charged for not paying properly is greater than the rate that a financial institution can demand.

One of the best ways to avoid conflicts of this kind is not to make them ‘extensive’ to the other members of the family. Above all, do not speak in front of others at family gatherings, for example at Christmas , birthdays or weddings.

It would not be bad if the agreement is in writing. We are all very good until there is money involved. If you are going to lend money to someone in your family, you have the right to sign a contract or a valid document. If this person gets angry or offended, it may not be a good idea to give him what he asks for.

It is not impossible to handle family conflicts related to finances if we speak correctly, if we anticipate the facts and if we ask for help from people outside the bond.

How to handle family conflicts related to finances