Tips & Tricks

4 Tips To Avoid Fighting About Money With Your Spouse

When it comes to couples fighting, one of the biggest culprits is money.   Couples may see eye to eye on their favorite sports teams, flavor of ice cream, and political viewpoints, however when it comes to how they each spend money it can throw a real curve ball in a relationship.

Many couples hit a roadblock in their relationship when it comes to money because ultimately one or both of the people in the relationship end up feeling like their spending style is superior.  However, as with all things in marriage, both must reach a compromise.  Therefore, in order to reach a happy balance that will work for both of you, consider the following ideas for keeping the peace in your matrimonial wallet.

Total Transparency

It’s important to be completely honest with each other about your money.  If one of the people in the relationship is being dishonest with their funds it could not only lead to being audited, but it could even lead to bankruptcy.  Everything that you do with your money will ultimately affect your partner as well.  Being married means taking on a team attitude and accepting that everything you do is no longer just in your favor as an individual.

Therefore, rather than sneaking around or being dishonest, opt for total transparency and morality when it comes to your money.

Create a Budget Together

Creating a budget which includes all of your monthly expenses, bills, and extras like eating out or entertainment like going to the movies is the best way to clear any grey areas from your financial picture.

When the boundaries and guidelines are clear for who can spend what on what and how much, there is no room for argument or confusion.  Many times when one of the people in a marriage overspend or do something with their money that the other spouse isn’t’ fond of, it wasn’t out of spite but simply a lack of clear guidelines.

Give Each Other Monthly Allowances

Although being responsible with your finances is important, so is being able to enjoy your life.  Make sure to set aside a monthly allowance for both of you which allows you to have little luxuries which make your life fun.

If you like bowling or getting your hair done, then make sure that’s what you spend your extra money on.  The same goes for your spouse.  They should be able to do what they want with their extra allowance money which gives them happiness.

Split Expenses According To Income

Rather than splitting expenses straight down the middle, consider adjusting expenses according to income.  Since rarely do two people in a relationship make the same exact salary, it can make more sense to adjust according to how much each makes to avoid an imbalance.

BarryBlog

BarryBlog

I'm a real mover and shaker in the finance world. I work with some top names in finance as a consultant and am bringing that experience to you. Graduate and personal finance specialist.
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