Three Tips on Marriage and Money

When you get together with someone, the first thing you think of is not that you will be dealing with bills and mortgage payments. Unfortunately, arguing about money seems to be the norm when it comes to relationships.

According to a survey by SunTrust Bank, it appears that finances and money are the leading cause of stress in a relationship. 35% of all couples surveyed said that financial stress was their main problem. Out of the couples who were between 44 to 54 years old, the trend is even higher. A whopping 44% said money was the primary cause of friction between them.

There are a few ways you can avoid arguing about financial issues:

Budget together

Setting a budget together means you both are aware of what gets spent where and when. An accurate budget frees you up to get more done as you are both in control of your finances and are working towards a future together instead of apart. This way the arguments should be headed off at the pass as it is all out in the open, and the cards are on the table. There are a number of online tools and apps you can use to do so.

Common goals

Make sure you are on the same page working towards the same objective. If one of you wants to retire in Boca and the other wants to live in a brownstone in NYC, you will have different ideas about money and investments. Talk openly and honestly about what you want to achieve and plan to get there together.

Golden rule

Treat your partner like you want to be treated. If it comes to a confrontation about money or spending, it pays dividends to consider the other person’s goals and feelings. Perhaps there was a reason for the credit card charge? Maybe it was a surprise birthday gift. Once you have all the information, you can discuss it openly and always with the respect you would want for yourself.

There is no magic wand that can be waved that will make all marriages perfect, but if we can all stop arguing about money, we might be able to change a few things for the better.

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