Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
Money Matters: Strengthen Your Marriage by Putting Finances in Order > NetSparsh - Viral Content you Love & Share

Money Matters: Strengthen Your Marriage by Putting Finances in Order

Did you know that 43% of all married couples argue over money issues, making it the major reason couples fight? If you and your spouse handle money differently, now is the time to talk, establish expectations, and draw up a financial plan.

Money is a very big part of a marriage. Having enough to spend, and to do the things each wants to do, is important to both parties. When couples are not able to do that, then other issues pop up in the relationship. When husband and wife are not on the same page as far as family finances go, other difficulties inevitably arise.

Effective communication often emerges as the most difficult obstacle to establishing goals and expectations, and developing a financial plan. Many of us have been taught during childhood that discussing money is somehow inappropriate. Couples must understand that it is not only appropriate but absolutely necessary to managing finances in a marriage. Just as finances must be planned in a business, they must also be planned in a marriage. You must communicate in spite of any difficulty.

For example, how do you get your spouse to understand that he or she will need to curb their spending habits so that you both can begin putting money away?

There s got to be a viable agreement, because most couples discover that a lack of money, a lack of spending control, or a lack of fall-back savings eventually causes other problems in a marriage. Little things grow into much bigger things. However, as emphasized by Daniel Smith a noted financial expert cited in The Marriage Medics, future arguments over finances can be avoided by simply communicating, creating an understanding of expectations, setting objectives and agreeing on a financial roadmap.

The Marriage Medics outlines the following financial plan of attack for couples of any age:

1. Stop living beyond your means.

2. Treat the household like a business.

3. Create an income-and-expense statement.

4. Create a balance sheet.

5. Create a budget.

6. Figure out how to pay down your debt. Agree on a plan of action in which you both share equally in cutbacks.

7. Find ways to cut expenses.

8. Go on a debt diet starting with the little stuff.

9. Have only one credit card for your entire family.

10. Celebrate when you pay off a debt.

There are many resources for help in creating family budgets and living within them. For instance, Jim Miller, a Registered Investment Advisor, author of Retire Dollar Smart, and the host of a financial advice radio show is an excellent source. Visit his web site at: www.retiredollarsmart.com. In sum, married couples have an important opportunity to plant the seeds for a healthy marriage by simply talking with each other, being realistic about expectations, and making that financial plan. Money matters!

Copyright 2005 Cynthia Cooper

NOTE: You may run this article provided you run it with the bio box intact. Please email a copy of your publication with article in it to [email protected]

Cynthia Cooper, Ph.D., is a clinical psychotherapist and co-author of The Marriage Medics which you can obtain via http://www.themarriagemedics.org

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

What Could Trump Do to Ease Average Americans' Personal Finance Woes?
Motley Fool
On this Motley Fool Answers episode, Robert Brokamp is on his own to interview Rachel Schneider, a senior VP at the Center for Financial Services Innovation, and professor Jonathan Morduch, who teaches public policy and economics at NYU, about their ...

and more »

Daily Nation

PERSONAL FINANCE: Make money make you feel good
Daily Nation
PERSONAL FINANCE: Make money make you feel good. Friday November 17 2017. Spending money might be accompanied by feelings of guilt, especially if you don't have a lot, but here's how to counteract that. PHOTO| FILE| NATION MEDIA GROUP ...


MoneyRates.com

Investment and Personal Finance Terms Guide
MoneyRates.com
There is a great deal of jargon associated with personal finance, and in order to make informed decisions, it is important to not just recognize some of that jargon but also to understand the concepts behind it. Here are some general investment and ...


Yahoo Finance

At this high school, personal finance courses are required for graduation
Yahoo Finance
Starting with this year's freshman class, personal finance will be a required course for students at Oconomowoc High School. The nine-week class meets for 90 minutes every weekday, and students earn a half credit for passing. Using data from financial ...

and more »

Tesla's electric truck and 6 things to remember when giving a speech
MarketWatch
Happy Thursday, MarketWatchers! We've almost made it through the week. Here are your top stories in personal finance. Personal Finance. 4 ways Tesla's electric truck announcement could change our roads. Elon Musk wants to disrupt the truck industry too.


Kiplinger's Personal Finance: How to offer financial help to your aging parents
Richmond.com
Numerous studies have shown that our ability to manage complex tasks diminishes as we get older — and for financial tasks, the decline typically starts after age 60. Because the decline is gradual, many seniors don't realize they're having trouble ...


USA TODAY

Aging, the longevity economy and what it means to you
USA TODAY
And, given a fair chance, they will be the ones to innovate answers to those demands in the form of products. (Hint, Silicon Valley finance!) Not only do women typically live longer than men, but they are most likely to be the chief consumer officer of ...

and more »

USA TODAY

5 ways an identity thief can use your Social Security number
USA TODAY
Having your Social Security number or card stolen isn't quite like getting your bank account information taken — though granted, both are stressful experiences.

and more »

ConsumerAffairs

Most high school students graduate without personal finance course
ConsumerAffairs
Photo (c) FatCamera - Getty Images Only 16 percent of American teenagers are required to take a personal finance course to graduate from high school, according to research from Net Gen Personal Finance (NGPF), a non-profit financial education ...


The Guardian

Schools ignore personal finance lessons and fail Generation Debt
The Guardian
At The Priory Academy in Lincoln, maths teacher Jim Hardy is working on increasing the level of personal finance education, particularly in the school's sixth form, after feedback from ex-pupils now at university suggested that a huge number wish they ...

Google News

How Electronic Checks Work ? Will Paper Checks Eventually Go Away?

Traditional checks probably won't disappear anytime soon, but processing checks... Read More

Benefits of Personal Finance Software

In this age of information, keeping track of your finances... Read More

Financial Security

1) HOW TO LOOK FOR A JOBA) The Chronological Curriculum:1.... Read More

10 Tips to Make Sure Your Financial Budget Will Succeed

You've analyzed your past expenses, put them into spreadsheets, loaded... Read More

Should You Borrow From Your 401(k) Account?

If you have a 401(k) account, it can be very... Read More

Credit Card Debt ? Watch Your Credit Report and Your Bill

Most consumers are aware of the importance of their credit... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion.... Read More

Roth IRA Contributions - IRS Rules

Confused about whether you can contribute to a Roth IRA?... Read More

Reduce College Debt with Scholarships

Six Scholarship judges were sitting around an oval table. Forms... Read More

UK Graduates Looking Short-Term At Their Long-Term Financial Responsibilities

With almost two thirds of university entrants from England and... Read More

Learning the Basics of Handling Money

With prices increasing all the time, saving money can be... Read More

Personal Finance ? Why You Should Compare, not Despair

Sorting out your personal finances can be a tricky and... Read More

10 Tips To Save Money When Dining Out

Here are some tips that can help you save money... Read More

How to Choose the Right Bank for Your Online Business

You should thoroughly consider your business needs when selecting a... Read More

Personal Loans For Homeowners ? One Of The Numerous Rewards For Being A Homeowner

You no longer look at the pictures of homes cause... Read More

Money Matters - Really!

One of the biggest challenges facing black RELATIONSHIPS today are... Read More

Make or Break Your Retirement!

The Prudential has dubbed those who refuse to leave home... Read More

Save Money on Groceries: Part I

One universal of humanity, no matter who you are or... Read More

Are You Sick of the Financial Insecurity of Fluctuating Seasons and Income?

Finding a stable and secure income that will come year... Read More

Know Thy Finances

The first step to financial success lies in knowing your... Read More

Budgeting your Savings - Did You Let Your Piggy Bank Get Away?

I think most of us have at some point in... Read More

Improve Your Professional Image Using Address Labels

One of the simplest ways to improve your professional image... Read More

Students Investing in Their Future Need to Manage Their Finances Today

With the A-level results coming out, the long wait for... Read More

Developing a budget? Watch out for Those Budget-Bursting Gremlins

If you've developed a household budget to get your spending... Read More

Single Mother and Learning how to Save

Saving may seem easier if you were saving for a... Read More