Managing finances as a married couple is no easy task. Though husband and wife try hard to spend money wisely, it’s hard collaborating between two people on what to buy and how much you’re willing to pay.
If you’re just married or struggling in your marriage with managing finances, sit down and ask yourself and your spouse the following questions:
1. Should separate checking accounts be opened?
2. How much money should be saved each month?
3. How much money should be contributed to charity?
4. If I want to buy something, does the other party need to approve?
5. Who’s paying the bills?
6. Is there play money?
Managing finances as a married couple requires a lot of work. It requires husband and wife talk with one another for nearly every major purchase. Notice “major” purchase and not “minor”?
First point of emphasis, define “major” and “minor” because confusion is a surefire recipe for arguments. What a husband thinks is minor may be major in a wife’s eyes.
If you’re the breadwinner in the family and your spouse stays home, don’t assume you hold all the cards. Don’t do it. Your spouse’s role is equally important, if not more important.
Domestic Engineer (fancy title for house wife/husband) is a brutal occupation especially if children are involved. So communicate everything between the two of you. This ensures no one is left in the dark.
As with most things in a marriage, communication is the key. Managing finances in a marriage is about laying the foundation before problems arise and adhering to the steps established.
Accumulating money or status should not inflate one’s head. Think about your position in life and how you achieved it, more than likely, it’s because your spouse supported you through the good and bad.
You’re a team, a unit. A union set out to accomplish similar goals. You both play on the same team so think about what fighting over money will accomplish?