Money is one of those hot topics that can very easily come between couples. It might be a clash of attitudes and values or it could be stress caused by lack of funds.
Do You Share the Same Attitude to Money?
Perhaps each partner has a different approach to finances. Maybe one is a spender and the other a saver. Whatever the cause of friction, couples that discuss and agree upon a joint approach to money will find that they argue less.
Top Tips for Managing Money in Marriage
Here are some rules that will help you to determine a joint approach to your finances.
1. Discuss money early on: How much money do you earn together? What are your overheads? Will you spend or save any excess? Determine your individual attitudes to finance; think about short, medium and long term goals.
2. Set your budget: Agree on who is going to manage the bills and try to make sure that each of you still has some budget to use independently. One partner shouldn’t need to come to the other to ask for money – both should feel financially independent as far as the joint finances allow.
3. Make a financial plan: Agree on a monthly saving plan and what it is that you want to save for.
4. Adjust your plan: Life is full of twists and turns. Should unemployment or debt become an issue, revise your financial plan to adequately take account of and tackle the situation you are in. Even if the figures don’t add up, you need to be aware of this and make changes such as cutting back in one area, taking out a loan, getting financial help and so on.
5. Tackle problems: Not identifying financial problems or reacting to them simply compounds the problem and piles stress on your marriage. Working on financial problems together and taking steps to deal with and resolve these can actually strengthen your marriage and demonstrate the strong unit that you have become.
If your marriage is experiencing problems and you want tips on how to save your marriage, don’t delay; take action today.
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