Money and Marriage 101: Marriage Tips to Avoid Marital Conflicts
Couples of every class often disagree about money, which can cause marriages to fail. Each person has different meanings attached to money.
Some people like spending money more than others. Others feel better about themselves when they save money and look at their saving accounts.
Each person also values different items. Some people do not mind spending $100 for a bottle of wine, and the others see that is waste of money.
These differences definitely create marital conflicts and disagreements.
While money is as important to a marriage as wheels are to a car, it is also sad if money becomes a contributing factor to divorce.
Money is not just a means that we use for the exchange of something. Money is deeply connected to our emotions. Some people feel "fear" when they do not have enough money in their bank accounts. Some feel "joy" when they purchase a brand new car or shoes.
What can we do to fill the gap between you and your partner in terms of money.
If you are already married, realize that your partner does not want a parental figure lecturing them on expenses and financial responsibility. The object is to find common financial ground and discuss it instead of arguing about it.
If you and your partner have not embarked upon marriage or will do so in the near future, put everything on the table. Reveal any debt, spending habits, and net income so that you can discuss your goals before you make the trip down the aisle.
Copies of your credit report can be requested from Equifax, Experian, or Trans Union either online or by phone.
Ask questions about your spouse's upbringing and their current lifestyle expectations. For example if your spouse is accustomed to fancy restaurant dinners throughout the week, be aware that this could potentially affect your finances if this is something that you will incorporate into your finances.
Also, inform your spouse if you are accustomed to an extravagant life style or lack thereof. In either event, be sure that you both are on the same financial wavelength.
Regardless of who provides the most financially, give each party a voice in financial decisions. It will decrease arguments and promote equality in the marriage.