Did you know? Money is the number one issue that couples argue about. Even if you have plenty of cash, money can become an issue for many loving couples. So what can you do to prevent constant bickering about money?
Before You Get Married
When you are considering getting married, talk to your future mate about money and their financial preferences. Regardless of how head over heels you are in love with someone, by the time you are ready to get married you should have a good idea about how your partner feels about spending and saving money.
Make a Budget
Sit down with your partner and make a budget. This budget includes your regular expenses of food, rent or mortgage, childcare, bills and gasoline. Decide together how much disposable income you have to spend on things like clothing, haircuts, manicures and going out to eat. Once you have it all figured out, stick to it.
Talk About It
Sometimes couples have issues with financial inequities, such as one person making significantly more than the other. The person who makes less money might feel less worthy to spend money. Sometimes the person who makes more money might feel entitled to have a larger say in how the cash is spent. Couple can avoid some of these arguments by talking about it up front and before it becomes an issue.
Debt
Being in debt can be a constant source of friction between couples. Sometimes that debt can feel like a large iceberg that is slowly threatening to mow you over. Do your best to not spend beyond your means by establishing a budget and sticking to it. If you are carrying a large debt, talk about ways you can cut costs and continually work on paying down your debt consistently every month.
Big Buys
When either partner wants to make a large purchase such as an electronic item or vehicle, talk to your spouse first. Remember, you are not asking for permission, you are including your partner in purchasing decisions that may effect your future.
Savings
Many married couples are reluctant to keep a savings account, and with the low interest rates it makes sense to not store large chunks of cash in savings. Consider long-term investments such as 401k plans so that you have a financial future. Savings bonds are still a great way to save money for your children’s future as well.
Go Pro
If you have tried all of the above and are still having recurring money issues, consider hiring a financial adviser to help you sort out your money.
