How Do You Handle Marriage And Money?
When couples become engaged, they typically spend hours planning their weddings, discussing home decor and negotiating family holiday visits. What they don’t typically do is discuss their attitudes about and plans for money, which is why money issues are one of the leading causes of divorce. Be open. Even if you keep your finances separate, keep each other in the loop. Talk about all of your debts, bills and spending habits. Having secret accounts or credit cards is no way to build a financial future together. Set priorities. If your spouse doesn’t know that you want to save up for a big vacation to Hawaii, s/he won’t understand why you’re mad about the $300 s/he blew on a fancy dinner out. Write a list of priorities together so you both know what you’re goals are. Create a budget together. Allocate funds for each of your priorities and plan for each of you to have some discretionary income to spend independently. You may not like that your spouse spent her monthly discretionary money
