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4 min read

How to Talk to Your Partner About Debt

Discussing finances with a new partner is always going to be a bit awkward. However, this can be even more difficult when you’re struggling with the burden of debt. You may be worried about how your partner will react, particularly if they have never dealt with money problems before. However, it’s important to remember that communication is key. That’s why we’ve put together some top tips to help make the conversation a little easier.

Woman puts her arm on her husbands shoulder to comfort him.

Why should you speak to someone about your debt?

It may be tempting to run away from your financial problems and try to hide them from your loved ones. However, this may have a severe impact on your mental wellbeing, causing you to suffer from feelings of anxiety and depression on your own. So, there’s no point in tormenting yourself by spending hours imagining how the conversation will go.

After all, a problem shared is a problem halved. You’ll probably find yourself feeling like a weight has been taken off your shoulders after finally reaching out for help.

It is likely your partner will find out about your debts anyway. Therefore, it may be better that it comes from you directly and sooner, rather than later. You may even find that your honesty strengthens your relationship and allows you to build a happier future together.

How to talk to your partner about debt

The first step to talking to your partner about debt is accepting it yourself. Therefore, you should know how much debt you’re in and have a plan for how you’re going to pay it off. The best way to discuss this with your partner is to show that you have the situation under control.

Organise a time to speak to your partner without distractions in a completely honest way. Your partner should appreciate the trust and communication that you’re demonstrating.

Be prepared – Take the time to write down everything you want to say before the conversation. This will reassure your partner that you are serious about tackling your debts.

Explain the reason behind your debt as this will help your partner to empathise with the situation. After all, nobody wants to be in debt, but it often comes about due to factors that are out of our hands. So, stop beating yourself up and focus on what you can do now to improve your circumstances.

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