Money is very important in a marriage because this will determine the success of the relationship. Without money, couples and children are affected.
Although money is not everything in a relationship, money could make or unmake a relationship. Money is very important to people especially to couples. Many relationships have failed and died a natural death because of money. Although we hate to admit it, money is often times the root of all the problems in a relationship.
When the family’s financial status becomes unstable, the relationship of couples are affected. What is worse, the kids often are the worst affected especially when they are still going to school. If money is the problem, kids are sometimes transferred to cheaper schools. The other needs are controlled and sometimes the quantity and quality of food is reduced. Extra-expenses are cut off and only the necessities are provided.
Many relationships have gone sour because of money. Couples must both have good sources of income to provide for the family’s needs. If one is earning more than the other, what usually happens is there is a conflict between the couples. This means that money is very important in a relationship, whether it is for spending or it is the principle behind it. Some couples fight because one of them does not know how to save money.
The need of the family
At the start, couples do not have children. There are no additional mouths to feed and they can live a lifestyle that they choose to have. When kids come, changes follow. There is no problem at all if the couple is earning that much to provide well for the kids but in some situations, the couple maybe earning just enough which make life with children hard to cope with. Sometimes, the problems start from here when additional expenses are needed for the children.
How important money is to a relationship depends on many factors:
The lifestyle of the family
The importance of money in a relationship sometimes depends on what lifestyle the couple or family chooses to have. Simple people often have happy relationships even with just enough money to spend. Those who aim for a more luxurious lifestyle often end up being unhappy because they choose a life that they sometimes cannot afford. If there is no more money to spend, relationships often get into trouble. This is where relationships sometimes end.
The kind of job the couple has
Of course, those who earn more could afford to have a more comfortable life than those who earn less. Problems come when the couples could not provide for the family’s needs. If there is financial problem in the family, situations change.
Communicate About Your Finances
You need to make sure that you will work together on your finances. This means that you should sit down and openly discuss where you are currently including all of your debt and assets. Once you are married you combine these. It can be very frustrating to have one person spend money frivolously while the other one saves money constantly. You need to work together to find a happy medium. You will need to come to major decisions together, and decide how to deal with financial pressures from extended family, or other tough financial decisions that may come up.
Set Goals Together
After you discuss where you each are financially you should set specific finance related goals as a couple. This can include getting out of debt, buying a home and saving for retirement. You should be specific with a timeline and amounts, because this will help you stay on track. Your goals will help you to succeed financially and retire comfortably. As you work together to achieve these goals you will find that the direction and purpose helps to strengthen your marriage.
Additionally, you should plan a budget together. This will help you to work together to achieve your goals. It also sets up clear spending guidelines. When you are budgeting as a couple, it is essential that you communicate on a regular basis. At first, you may need to go over the budget every night and report your spending to each other. Once you have been budgeting for a few months, you may be able to talk about your finances just twice a week. By discussing what you have spent and keeping a running total of your budget, you will both be involved the daily financial decisions and work together as a team. As you work at it, preparing a budget will get easier. Take the time now to great good financial habits in your marriage. An allowance for both of you can help stop money fights and give you money to spend on some of the things you want each month.
Finally, when it comes to marriage and money, you should let go of the past and move forward together. If you are going to resent the student loan or credit card debt your spouse brings into the marriage, you may need to rethink getting married. When you are married you take on both the positive and negative aspects of the marriage. It is important to consider the debt and savings as ours instead of yours or mine. This will lead to a much more positive experience for both of you. You may want to talk to a marriage counselor or a church leader about these issues before you get married. Doing this can prevent you from going through a divorce and the financial problems that divorce causes. If your spouse refuses to combine finances, it may be a sign of deeper marriage issues. You should seek counseling to address the issue.
