Financial problems and disagreements are the leading cause for divorce in the United States. In a marriage, each partner may have very different views of money and that’s when finances can get tricky. One spouse may not see savings as a priority while the other is strict in spending money. Following a plan can help keep money marriage woes at bay.
Be Open and Honest
One of the first steps to reducing financial tensions is to be honest with one another before saying the I do’s. Chances are both partners will have some financial debt from the beginning. Going over your credit history and any unpaid balances together will go a long way. When you marry, you bring each other’s debt together (it’s the not-so-glamorous part of marriage) so building a plan before marriage will save you stress later down the road. No one wants to keep financial secrets only to have those debts exposed unexpectedly. Hiding debt from your spouse will only create strain and distrust in a marriage. When it comes to money honesty is the best policy.
Share Your Dreams
Communicate with each other regarding your future plans and dreams. Find what priorities you both share and build a plan to make your shared dreams happen. Is it finishing school? Or buying a house? Whatever it may be it’s important to agree on your future plans and agree on how you plan to make your dreams a reality.
Set the Mood
Set the mood…the money mood that is. Choose a time that both you and your spouse are relaxed to discuss finances. After a stressful day at work the last thing one wants to think of is money and bills. Set the stage for a calm atmosphere. Turn off the television and sit down to a peaceful environment to talk about your finances. If need be, step outside to some fresh air. Wherever you choose to have a discussion on money be sure it’s a suitable time and place.
Assign
Appointing one individual to pay the majority of the bills is helpful for many couples. If one spouse is more responsible with paying bills on time it may be good idea to assign that person to the job. Then there can be no arguing if someone forgets and pays a bill late.
Not in front of the Kids
Keep money problems a topic to be discussed away from the kids. Set a good example for your children when it comes to finances. Arguing over how your wife or husbands excess spending is going to take away from Junior’s college fund will only give a negative view of money and marriage. Show your children that marriage is about uniting together not bring each other down.
Other factors you and your spouse may want to look into are different insurance policies to protect your assets. Always be sure to compare home insurance rates to make sure you are keeping as much money in your pocket as possible.

