Like a career-ending injury sustained by an athlete, financial strain can surprise a marriage in unexpected seasons. Money is one of the most common argument topics in a marriage. Financial stress can take a hefty toll on any relationship, and it’s important to have the tools to either mend a financial crisis or prevent one from occurring.
Here are a few quick tips to assist you and your spouse in achieving financial peace:
- Create a budget together
- Set a time (weekly or monthly) to check up on your finances. Call it something positive, such as “Financial Date Night”, to steer clear of any negative associations with this financial task.
- Make a list of wants and goals for your money. Together, decide which goals are most important and be sure to list those at the top of your list.
- Check in with or ask your spouse before making a significant purchase. Try not to view this as “asking permission”, as this simple task shows respect and consideration. When we consult our spouse in our spending, they feel informed, valued, and empowered to know where your money is going. If there is disagreement on a purchase, sit down and calmly discuss the issue (see tips on Communication).
- If you and your spouse both struggle with money management, try consulting a family member or financial advisor who has the knowledge and experience to aid in certain decisions.