Money is one of the main reasons why there is a rampant breakdown of many marriages.
As the saying goes, money is the root of all evil. Get in control of your money before it gets in control of you!
Fights aren’t always avoidable in a marriage, but there are things you can do to make sure money isn’t something you fight about.
- Communicate about your
Love and trust is the foundation of every relationship. Your marriage can also survive the test of time if you work together as a team.
Openly discuss your different sources of income, make major decisions together and how to deal with financial pressure from the extended family.
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- Set goals together
Once you know the projected amount at the end of every month, set specific finance-related goals as a couple.
You should be specific with a timeline and amounts because this will help you stay on track. Your goals will help you to succeed financially and retire comfortably.
As you work together to achieve these goals you will find that the direction and purpose help to strengthen your marriage.
- Budget as a couple
Budgeting is important for everyone. List the all the items that will be needed for a month and save some money in the emergency funds for unexpected expenses.
When you are budgeting as a couple, it is essential that you communicate on a regular basis.
An allowance for both of you can help stop money fights and give you money to spend on some of the things you want each month.
Make sure you work on building your relationship even when on a tight budget, you can still afford these cheap dates. You will also need to adjust your budget when you have kids.
- Merge your finances
Finally, when it comes to marriage and money, you should be very transparent to avoid creating confusions. You should let go of the past and move forward together.
When you are married you take on both the positive and negative aspects of the marriage. It is important to consider the debt and savings as ours instead of yours or mine.
Remember that you both need to reach the same decisions about lending money to your parents, how to care for them as they age or other major financial decisions.