Marriage and Finances

Nothing will create problems in a marriage faster than money problems. When two people are married, they may have very different ideas about what to do with their money. One many be a saver while the other is a spender. If your marriage is going to be one of harmony, you have to discuss the finances.

Too many households allow that to be the elephant in the room. They are tense about the bills but they don’t talk about it. One spouse may be rushing home to get the mail before the other can see the bills coming in. It can be tough, but coming clean about the bills and finances can save your marriage.

When a couple can see eye to eye on how to handle their money, it means they work as a team. It doesn’t mean you have to give up your own thoughts about it. Instead, come to some compromises and stick to them. For example, if you are a saver then agree on a set amount of money that you will both put into savings monthly.

If you are a spender, then agree to a set amount of money that you will spend on various purchases during a month. Once that money is gone, then you won’t spend any more until the following month. Such rules can be difficult at first, but you will find that they do help your marriage and your finances.

If your budget could use some work, do it as a team. Write down what you have to spend your money on to keep the household running. Then write down all the extras. Each of you should get to pick a few items on that list of options that you want to keep. For you it could be your magazine subscription. For your spouse it could be golf on Sunday.

You will find that there are many other things you can do to cut down on the spending. For example, it may be time to trade in a large vehicle for one that is better on gas. If you go out to eat often, do it only once a week and cook great meals with each other the rest of the week.

Talking about money isn’t easy in most marriages, but the more you do it the easier it will become. Set a time each month when you can sit down together to pay bills and to go over expenses. It isn’t fair for one person to have that responsibility in the household. Create financial goals too that you can both be working towards.