How to deal with marriage finances. How to save, spend, share expenses etc.
A couple's finance is a touchy issue in marriage.Being married means sharing common financial goals.Both have to sacrifice personal expenditures for the sake of savings for the future or for financial obligations.Conflicts arise when either spouse faces difficulties or restrictions in the new financial budget arrangements.
A marriage is a complement of all sorts. Both have to compromise.Take turns to give in to each other's desires.There are basically 4 types of money personalities :spenders, savers,anxious and careless.Any combination of 2 opposite traits may work together as they complement each other and sustain the marriage through this balancing act.
Some couple maintain separate accounts and split the bills equally.This is good financial sense if either has to maintain an ex-spouse or children from a previous marriage.
Couples need to remember to weather any financial crisis. Sometimes, one may be jobless and the other has to shoulder the burden as part and parcel of marriage.No matter how tough the going, things will work out if the couple sticks together.
Discuss money worries and find solutions to ease the tension. be honest about money policies.Agree on the major issues and compromise on the minor ones.
Split expenses fairly. Keep a record for the exceptional expenditures and then decide how to split the bill.Don't let unhappiness over money creep into your marriage.
Assign a partner to maintain the household book-keeping to ensure prompt payment of bills.Unpleasantness like cut power or gas can cause quarrels.
Discuss before making expensive purchases.Both must feel its fair to indulge in that and its fair to the other who's scrimping to save.
Make allowances for personal expenses like small indulgences. This maintains the fun and sanity in marriage.
Never air dirty laundry about money matters in front of a third party.Its touchy enough without further embarrassment from an outsider.
Discuss on kids' requests for expenses.Agree on them before the kid plays one parent against the other.
Update your money statements with each other.If there are any changes in goals, discuss them. Two heads are better than one.
Couple finance is a life-long aspect of marriage and relationship. It's essential to be prudent and plan for retirement now. Sharing money goals will help towards money stability in marriage.