Sex & The City, Finance Style…
Finally today I get to have my Carrie Bradshaw moment and write about relationships. I’m always banging on about finance and small business but today I want to talk about couples, romance and finding love in the big city.
Only joking, not quite… this isn’t that kind of blog! My days as a sex columnist will have to wait – however what I do think is worth mentioning, is today I read some staggering figures. According to the latest Relationship Indicators Survey from Relationships Australia more than 70 per cent of people believe financial problems are more likely to drive couples apart.
The tension, stress, fights and age old blaming each other were the main catalysts. More than 30% of couples who divorce cited financial conflict as the main reason.
I don’t think this is very surprising considering the stressful nature of one’s finances. It’s hard enough if you are single, imagine when combining your salary with someone elses. There’s pressure on the bigger money earner, then the lower income earner feels insecure plus worrying about what the other person spent, both trying to pay the mortgage – throw the kids in there and you have yourself some stressful money woes.
So what happens when you add a struggling business into this mix? You want to save your business and need a loan but the bank wants your family house…
And often when you put collateral on the line it is in someone else’s name like say your wife, so what happens if you fail to pay the bank back? You lose your family home, your wife leaves you and then you end up all alone and among the 30% of couples who divorced due to financial turmoil. BUT with debtor finance you’re not using someone else’s personal assets, it’s purely based on the businesses turnover.
With debtor finance you don’t have to put collateral on the line, we look at the strength of your invoice and that’s it.
So here at AR Cash Flow not only are we dedicated to providing the best funding solution to our clients, we are also committed to lowering the percentage of divorce.