Money and Marriage
Money and marriage can be a challenge. Statistics show that money woes are one of the top reasons for problems in a relationship or marriage. That’s why it so important before you tie the knot to sit down with your partner and make sure you’re both on the same page when it comes to your finances. Perhaps the big day has already come and gone. That’s ok, it’s never too late to have “the talk.”
Figure out a plan that both of you can live with. Maybe you’re a saver and your spouse thinks money is only good while being spent. Planning a budget that accommodates both can go a long way in lessening financial tension.
- When working out your budget consider giving each partner a set amount they can spend without having to account for. This way each person still feels they have their “own” money.
- Plan ahead for these financial discussions. By scheduling these talks in advance there is less of a chance of a huge blow-up over a past due bill or impulse purchase.
- Set goals together as a couple. This could be for short term purchases like a new appliance or vacation or something more in depth such as retirement.
- Consider using a financial planner. Many times having an impartial third party helps keep things in perspective for everyone involved.
Money is such a sensitive subject for most people. The sooner you learn how to comfortably discuss your joint finances the happier your relationship will be!
Photo: Financial Freedom Academy