It is very surprising that what you need to marry becomes one of the biggest reasons for destroying your marriage. Whether you are a man or a woman financial stability is very important, however, the reasons could be different for both the genders, but this at one point in life becomes one of the biggest reasons for all of your marriage troubles. People who say they are going through a rough patch cite finances as the primary cause beating out secondary reasons such as annoying habits and infidelity. Studies have revealed that 40% of couples part their ways due to monetary problems.
It is said that you and your partner are not able to tackle your money problems despite being financially independent. While some people cite money issues as a reason for ending their relationship, the others say that they have never fought about money since their wedding day. You can avoid such problems if you show a bit of understanding and maturity. Money is not a big thing that you cannot deal with it smartly.
Discuss things together
The contribution to all expenses must be equal from both partners, therefore sit together and discuss your income and expenditure. Make sure that you both patiently listen to each other and assent to each item in the budget. Never hide any of your income and expense and never foist your decision on your spouse.
The rule of thumb says that you should add up the figures of your regular expenses such as utility bills, rent etc and divide them into two equal parts. This will help you know in advance how much of your income will go toward your common household expenses.
As far as it is about personal expenses such as payments of your very bad credit loans, shopping etc, you need to pay for them out of rest money available with you. Make sure that you also create a budget to meet your personal expenses.
Stop the blame game and find out ‘why’
If you think your role is over as you make a budget, you are wrong. Budgeting can keep you from running out of money but only if you track your expenses. At the end of every month, you and your spouse should sit together and discuss your expenses. It is important that both of you know how much money you have spent. However, this meeting does not only aim at discussing outgoings but also making financial goals. Make short term and long-term goals.
If you have been struggling to manage your personal expenses such as payment of no guarantor loans, you can find out where you lack. You should take advice from your spouse. At this time, you do not need to think about what happened but you need to decide what needs to be done.
For instance, if your partner has decided to put all bills on one credit card as it can make easier payments, it does not mean that what your spouse thinks is always right. You need to understand ‘why’. How it can be helpful. Before making a decision, make sure that you have discussed all the pros and cons. If you have a better idea, let them know.
This conversation is extremely crucial to avoid financial trouble down the road. While you need to be a patient listener, you need to be open to express what you feel is right.
Understand your spouse’s tendencies
Even though couples take care of their finances separately when both are financially independent, it does not mean you cannot seek financial assistance from your spouse when you are in need of money.
If you do not want to destroy your marriage due to financial problems, you need to understand each other’s qualities. It is likely that your spouse is not as much of a financial planner as you are although they are frugal. You may come across several situations when you find your spouse asking for money.
There is no problem as long as it is meager, but problems arise when you need to pay out a bigger amount. Once you understand the financial behavior of your spouse, you will rather start planning for money ahead of time than fighting.
The bottom line
To avoid arguments over money, you should follow the aforementioned tips. The rule of thumb says that you should understand the financial behavior, discuss things together, be a patient listener and put forth your opinions, set goals, figure out how you can achieve them and above all make a smart budget and keep tracking your spending.