6 Smart Ways for Married Couples to Approach the Subject of Joint Finances

It would probably come as no surprise to you to find out that money is the biggest bone of contention in the majority of marriages. Most often the arguments start over the lack of enough money or the contention that one spouse or the other spends more than their share. Unfortunately, many people end up getting divorced because of their money problems. Here are six ways that you can avoid experiencing money problems in your marriage.

1. It’s important to discuss your options as far as how you’ll go about merging your joint incomes. It’s important to note that keeping your money separate may not be the best idea. You two may want to explore all of your options although pooling money into a joint account can be a good idea.

2. Approach the issue of debts incurred prior to marriage as joint responsibilities and make it a point not to fight over them. Be aware that you may not be able to get things jointly on credit if one of your credit ratings is bad. It might also be wise to have a prenuptial agreement in order to protect one spouse’s assets from the creditors of the other.

3. Whenever discussing financial goals, discuss the risks that you’re willing to take to get there. It’s best to reach compromises that you both can agree on.

4. Make sure that you both stick to the budget that you agreed on. Even if both of you love to spend money, you don’t want to build up huge debts, and there will be things in your future that you want to save for, such as your childrens’ educations and retirement. Although they’re seemingly far off in the future, they will come much sooner than you expect if you don’t plan accordingly.

5. Having a few investment goals is also a good idea. When risking money, make sure you take into account when you may need it. If you think it’s possible that you’ll need the money in a few months, it’s best not to take a big risk with it. However, if you have money you can afford to have tied up in the long-term, you can choose more risky but higher-paying investments. At the end of the year, you should look over your portfolio and make any necessary changes.

6. It’s also important that you plan for emergencies. If nothing ever happens, then you’ll have extra money. You’ll be prepared financially in the event that something does happen though.

Too many couples try to keep financial secrets from each other, and this can doom their marriages. When it comes to money, it’s best to be completely honest. Your relationship will be stronger if everything is honest and above-board.Doc No.lsdhhsdlh-sdlkjhsgd

Kristie Brown writes on Kristie Brown writes on a variety of topics from health to technology. Check out her websites on stop my divorce and save my marriage

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