With everything that couples can argue about in a marriage, the one that leads to the decision to file for divorce more than any other is money. Financial difficulties account for the vast majority of divorces because of the additional hardships that fiscal vulnerability creates. If there are any problems in the relationship, money stresses will certainly reveal them. Concerned that money troubles could mean the end for your relationship? Follow these steps to overcome the problem and never fight about money again.
Practice full disclosure.
When one spouse keeps a lid on the full extent of finances, it will inevitably create problems. That’s because it can so easily lead to overspending or the spouse with less financial control feeling betrayed when they find out about assets or debts they weren’t aware they had. Couples who share awareness of income, expenses, assets, and debts, are much less likely to fight over money, so make sure that both of you can check in and out of your accounts at your leisure.
Share bill responsibilities or automate.
Paying bills can be one of the more stressful acts in a relationship because it’s a constant reminder of the money going out and it can be a juggling act making sure that there is enough money to cover. Plus, there are often so many bills that it can create stress trying to remember to pay everything on time. If you want to lessen your chances at divorce papers, think about dividing the payment of bills evenly and then implementing a system of checks and balances so you are both likely to catch something that needs to be paid before it’s overdue. And wherever possible, see about automating the payment of your bills. Banks often take care of this task for you for a nominal fee. If you can afford it, it can certainly lessen the load.
Have two types of spending: independent and groupthink.
A certain degree of financial freedom is healthy in a marriage, so if you want to have two separate spending accounts — one for each spouse — just make sure you’re divvying it up fairly after the bills are paid from your joint account. That way if you want to buy a soda or a lunch out with friends, you can without there having to be discussion. But for major discussions, talk about those with each other before acting, even if you have the money in your spending account. So, no cars or boats or computer purchases unless you first discuss. After all, you want to be prepared for unexpected financial hardships.
If you follow these tips, you’ll be much less inclined to fight about money. What are some suggestions that have helped you? Share in the comments section below.