When you say “for better or for worse” you never envision that the “for worse” could mean financial woes. If you have debt, it is best to clear it up before marriage. Learning how to manage money will prevent you both from repeating the same past financial mistakes and will also ensure that you are both on the same spending and saving page.
Great communication and great financial planning are important pieces that can help to ensure a long and happy marriage. Money problems are one of the biggest stresses in any marriage. Learning how to manage money as a couple, setting solid goals, and sticking to these goals provides a great foundation for a new or existing marriage.
Managing Money in A Marriage – Can It Be Done Successfully?
It’s a proven fact that when it comes to managing money, very few couples are soul mates. One of you will be a saver and the other will be a spender. In conjunction with that, one is more conservative while the other is probably more prone to be more of a risk taker. Taking those facts into account, both are convinced that their way of thinking is the right way. Wow!
Is it any wonder that discussions related to managing money can quickly erupt into an argument? How in the world does one diffuse a powder keg like that? There is a way that a couple can come to an agreement on managing money that will be acceptable to both.
First of all, understand that no one agrees with the other on all matters, and its okay to disagree on certain issues. When it comes to managing money, there is always room for more than one idea. One individual, more than likely, will not always have the correct solution every time.
The most important thing to remember is to keep an open mind, and let the other spouse communicate their ideas. And don’t become critical or cynical if you disagree. No married couple is in complete agreement, on all issues, especially managing money, all of the time. Furthermore, you don’t have to be.
Reasons You and Your Spouse Shouldn’t Fight Over How To Manage Money
Do you and your spouse ever fight over how to manage money? If so, please read on to see what damage this may be causing to your marriage. It may be a lot more than you realize.
A study done by the American Institute of Certified Public Accountants, reported that approximately 27% of Americans say that a disagreement about financial issues, usually blows up into an argument. This issue tops the list of other causes of arguments like children, work, household chores, and friends. This not only applies to married couples but also to cohabiting couples as well.
Spousal arguments are never easy, but arguments over money tend to be more distressful and generally linger on. Another study that was done by the Utah State University, found that disagreements that occurred once a week between married couples, over how to manage money, would end up in divorce twice as likely as those that argued less than once a month. Big difference.
This is due in part because arguments over how to manage money generally include more than just finances. Money has come to represent so many other things such as power, control, love, freedom, and even self esteem. Decisions made concerning money, are very personal, and this is why those can lead to nasty fights.
Discussions on How To Manage Money Will Help You and Your Spouse To Achieve Financial Intimacy
Whether we like to admit it or not, discussions on how to manage money, or the lack of it in some cases, is the primary cause of divorce today. Perhaps we should take that concept a bit further, and say that the lack of communication, e.g., discussion of finances, leads many couples to the divorce lawyer.
Many books have been written on this subject, usually with different strategies on how to overcome the problem, and basically they all come to the same conclusion, couples must be able to discuss thetopic of money in a healthy and constructive way. It’s easy to say, but sometimes hard to do, isn’t it?
Apparently the topic of money has become taboo. Is it because, as children, how to manage money wasn’t discussed in your family? Do you think if it had been you would be more open to discuss it with your spouse? Is it more prevalent with the current generation of couples? Many are doing research on this, and the results aren’t really that conclusive.
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