Money Management After the Wedding
While couples may spend more than a year planning every detail of their dream wedding, they may spend far less time actually preparing for the marriage itself. After the last rose petal falls at the wedding reception, real life begins and unfortunately many couples find themselves unprepared to deal with their finances. More...
While they may have discussed the color of the flowers that would grace the aisles, they may not have talked about their attitudes when it comes to managing money. With financial issues being cited as one of the leading causes of divorce, itís important to plan ahead to learn to communicate and compromise. If you are planning to get married, a conversation about money is vital to encourage open communication about this sometimes controversial topic. If you are already married and money is an issue, itís never too late to start better financial habits in your relationship.
Depending on how we were raised and our current environment, values vary widely when it comes to money. First, itís important to identify each otherís attitude when it comes to finances. If you are conscious of your differences, it will be easier to foresee any challenges that may lie ahead. If you know that a conflict may arise, you will be much better equipped to deal with it when it happens. Do you like to save money while your spouse likes to spend every dime? Is one of you very open about finances while the other thinks it should be a secret? Is one of you opposed to credit card debt while the other figures that they will always carry a balance? How did you handle your finances when you were single?
Once you have identified each otherís tendencies when it comes to money, it will be easier to talk about how to handle your finances together. Compromise is the key. It is a safe bet that money will be an issue at some point in every marriage. If you are aware of your differences, it will be easier to deal with conflict when it arises. Here are the steps to take to get started:
In order to begin open communication about money, try to answer some of these questions yourself and ask your significant other. Then compare your answers.
Even if you plan ahead, conflicts will still inevitably come up. Here are a few money tips to help you minimize the disagreements:
While money can be a very
volatile subject in relationships, it doesnít have to be. If you realize
that at some point it will be an issue and you plan ahead for those times, it
will be much easier to resolve. The most important thing to keep in mind is
that honest communication is essential. Itís easy to fall into the
trap of blaming each other for different financial attitudes. How your parents
dealt with money, the way you were raised and your personal experience with
money will all color how it makes you feel. If you recognize those innate
differences and learn to deal with them, you will never lose sight of the fact
that money is just an object. While it is necessary to live, it isnít worth
losing a relationship.
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Copyright © 2005 by Jennifer Delcamp. All rights reserved.
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