Working Divas and Working Don’s need to keep their spending in check. How many times have you tip toed in the house with a shopping bag and darted to the closet to keep your new belongings undercover? Or when was the last time your saw your partner with something new you have never seen before? Be upfront with your boo about money and spending. Create guidelines in the beginning to keep you, your relationship, and finances from going out of control. Money is the top reason for tension in a relationship. Read the eight money tips for couples below and keep the peace and the cash.
1. Anniversaries, birthdays, and special occasions. If partners have different ideas on what a “reasonable” amount of money to spend on special occasions is, then this money issue could snowball into a marriage problem. Solving this money issue could involve finding ways to meet halfway. If you think $200 is reasonable for a birthday gift and he thinks $100 is, spend $150. Or, find non-monetary ways to celebrate special occasions – and learn how men and women view money differently.
2. Unemployment, layoffs, and pink slips. These financial issues that cause problems for couples because they also affect self-esteem, confidence levels, and emotional upsets (in addition to preventing you from achieving your financial goals). According to Dr Judy, solving this financial problem – and resulting relationship difficulties – involves planning your expenses with regular discussions, and adjusting your lifestyle.
3. Promotions, financial windfalls, and salary increases. “Weathering windfalls can be just as much a source of stress as tumbling finances,” writes Dr Judy in The Complete Idiot’s Guide to a Healthy Relationship. “You’ll face practical discussions about what to do with the money.” A money management tip for couples is to decide how you’ll handle money matters, and make all financial decisions.
4. Children. Food, clothes, doctor’s bills, sports, entertainment, education, recreation – they’re all money issues that cause marriage problems and stop you from achieving your financial goals. Solving these money problems for couples involves budgeting, teaching your kids how to earn they’re own money when they’re old enough, and having on-going discussions.
5. Big purchases: houses, cars, condos. “Make sure you discuss not just the practical details, but the emotional implications,” writes Dr Judy. “Large expenditures tend to imply long-lasting involvement that can stir up feelings about the solidity and longevity of your commitment to each other.” A money management tip for couples involves tracing the roots of your money matters and expressing your feelings about big purchases. This not only helps you achieve your financial goals, it also builds a healthier relationship.
6. Tax-time troubles. Deadlines, panics over taxes paid and unpaid, and frustrations with the powers that be can be a money issues that causes marriage problems. “Trust might also be destroyed if one of you suspects the other of hiding assets or being dishonest,” writes Dr Judy. To achieve your financial goals, she advises being honest and prepared. Dr Judy also suggests sharing tasks and being supportive of one another.
7. Stepfamily expenses.Alimony and/or child support payments can put a financial drain on your income as a couple, which leads to marriage problems. A money management tip for couples involves accepting that the responsibilities from a previous marriage are important to uphold. Plan for those stepfamily expenses, and separate the resentful or competitive feelings from the reality.
8. Vacations, weekend getaways, family holidays. “Attitudes on how to apportion your resources for time off, what to do, and how much to spend can make what should be a dream vacation turn into a nightmare,” writes Dr Judy in The Complete Idiot’s Guide to a Healthy Relationship. “Resolve your differing attitudes ahead of time, like going economy or first class.” Two more ways to achieve your financial goals are to take turns planning your vacations, and budget in advance.
Dr Judy Kuriansky lists four more money management tips for couples in The Complete Idiot’s Guide to a Healthy Relationship. She also discusses everything imaginable about relationships, from the signs of a healthy relationship to how to find a sex therapist for counseling. Visit her at The Adventurous Writer
