Handling Financial Issues in the Marriage



Posted: Wednesday, November 11, 2009

by Jen Barnum

By far the biggest marriage problems that a couple faces are in the area of money and finances. Mostly the breakdown of finances can be attributed to the lack of communication about them. It is important to note that no matter who is handling the finances in your marriage, both partners need to be aware of what is happening as far as money is concerned.

If you are the one handling the money you may feel it's your responsibility to handle all the financials but the truth is you're putting your spouse in a compromised position. If the other person doesn't have any knowledge about what or who bills get paid to or anything else they wold be in a bad position if you were to have some type of emergency where you couldn't function.

Keeping your spouse in the dark about financial woes is in no way protecting them; it is instead making a rift in your marriage. It is important that no matter how good or bad your financial situation is, that you keep your spouse fully aware of the situation and find a way to communicate the financial responsibilities of the household with each other. This does not necessarily mean sitting down and talking through every step of your finances, every day, but that is something that you can do every few months.

If you are looking to better communicate with your spouse on finances, then you have two ways you can go about this. You can either set up separate accounts and separate responsibilities and this works well for some couples, or you can choose to provide a budget book for your spouse, keeping a running tab and accounting for bills as they are paid, etc. This will allow both you and your spouse to see the comings and goings of the money without having to have long discussions about it every day.

So it's important for both of you to need to know the details, don't create gaps in your communications around finances. No matter whether it's negative, both partners need to be on the same page, pulling in the same direction.

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