Money plays a big role in almost everything we do. Therefore, as married couples, especially newlyweds, you need to be on the same page as to how your money is managed, saved and spent.

Many relationships have been shipwrecked because of money. You need to accept that each person has different views with regard to money. Create a platform where you can openly discuss any differences you might have.

It is your partner’s responsibility to make you feel validated. Each person’s contribution to the family needs to be seen as equally important – whether you work in an office or stay at home raising the children. You should never feel like you have to beg for an allowance from your partner.

Have regular financial discussions. Sit down and discuss your financial goals and your dreams. Follow these steps to try and alleviate some of the money headaches:

    • Get the facts – go shopping together so that your partner can get a realistic idea of what things cost
    • Keep a record of your spending
    • Prepare a budget/spending plan – income versus expenses
    • Take into consideration the needs of your partner, whether it is a new car or dancing lessons
    • Make provision for the rent or mortgage payments, groceries, phones, the water and electricity bill, how much you would like to save, etc.
    • Consider the state of your long-term planning, especially with regard to retirement planning
    • Review your budget periodically and adjust it when your circumstances change.

If you still find that money battles threaten your relationship with your spouse, consider seeing a professional financial planner who can provide you with reliable advice.

 

Source

Women’s Life
www.money.allwomenstalk.com
www.money.usnews.com/
www.yourtango.com

 

Revised by M Collins