How to Keep Your Relationship Financially Safe

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One of the leading causes of divorce in the United States is finances. It’s easy for a couple to find themselves bitter, angry, and resentful toward the person they once loved more than anyone when finances are a problem. Whether it’s one person spending too much, one not being generous enough with their income, or ample debt, many couples find it difficult to overcome these issues when they don’t prevent them in the first place. Keeping a healthy financial relationship with your partner is the one of the most important aspects of any good marriage, and there are several ways to keep finances healthy.

Discuss Finances Daily

It’s critical to discuss your finances regularly, whether it’s to mention you purchased a new top today or you spent a few dollars on coffee that morning. A healthy financial relationship is one that’s discussed regularly so both partners know where you stand. If you spend money, mention it to your partner each day. Discussing what you have, how much you spent, and where you stand makes it easy to keep things upfront and open throughout the course of your marriage.

Create a Budget Together

The most common misconception regarding budgets is that you don’t need one because you have plenty of money. Whether you have a million dollars in the bank or a thousand dollars in the bank, you need to budget. Have you ever heard the line about the rich getting richer because they watch their money like a hawk? It’s true. Budgets are for everyone. You should budget savings first and your expenses afterward. This keeps you both on track and allows you both to know what’s spendable and what’s not. This prevents many arguments, many negative moments, and it helps you stay close when other couples are falling apart due to their lack of budget.

Discuss A Spending Limit

Again, there is no difference between bank accounts here. You can have an account with millions or one with a few thousand dollars in it and still need to discuss spending habits. Sit down with your partner and pick a magic number. This is the number you can each spend each week, or day or month or whatever you decide, that’s acceptable to one another. For example, if your budget allows you $5,000 per month to do with what you please, discuss how much of that you can each spend per week without talking to one another.

Perhaps you each have $300 per week to spend on your lunches, your girls’ nights, your shopping, or whatever you want without any questions being asked. If you want to spend something more than that on a weekend away with the girls or on a household item, you must discuss it with one another and both agree to it.

Make Finances an Everyday Priority

Don’t limit your financial health to just spending money and saving money. Make it a priority in every aspect of your relationship, whether it’s finding a crime map of the neighborhood in which you want to move to determine your likelihood of being robbed or looking up the average cost of car repairs on the new vehicle you want to purchase. When you make it a priority to place financial importance on everything you do, you help keep your relationship healthy. When there’s no financial worry to get in the way, your relationship is that much stronger.

Finances can tear a relationship apart in no time, and too many people know this from experience. Don’t make the mistake of being embarrassed to discuss finances or even put just one person in control of yours. Make it a team effort and treat your finances like another baby in your family. It requires your everyday attention and focus to thrive, which is what helps your marriage survive when so many others fall apart.

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About Bethany Cleg

Bethany Cleg is a small business owner at Bethany Cleg Photography. She is an avid writer, photographer, and tech geek. When she’s not writing or taking pictures, you’ll find her hiking with her family.