It is nothing new that disagreements over financial matters is one of the primary reasons behind couples ending up in the divorce court. Although financial advice for married couples is readily available, yet they prefer continuing their fight over petty fiscal issues. If you and your partner are like most other couples, chances are high that you fight about money.
While you might hear advices that tell you to talk about money with your partner, talking is not always the only trick that works. In fact according to a study by a famous magazine group, it has been found out that 75% of couples talk about money every week. Still where's the problem? The problem is that most of us don't know how to talk about money as most couples tend to be emotional and reactive about money rather than being strategic. When emotions take a grip on you, you tend to take wrong fiscal decisions and this leads to couples drowning in debt. If you want to follow a debt free life, educate yourself on the most common fiscal mistakes that can wreck your married life.
- Combining your finances: One of the biggest issues that the newlyweds usually face is how to handle their finances. Most couples are struggling with this as they wonder whether or not they should merge everything and have a joint single account or whether they should have individual personal accounts and a joint account only for household expenses. A survey shows that 65% couples put their money in joint accounts and the rest of them keep everything in separate accounts. For the newlyweds, the choice should be somewhere in the middle as you should have some autonomy money. When one spouse enters into a hefty debt load, the other spouse can use his/her funds to help the other.
- Restraining your expenses: Your husband might be picking fights with you over your habit of overspending but then one fine day he enters home with a 70-inch plasma TV, what would be your reaction? Bet you wouldn't be impressed enough! Spending is yet another factor over which couples fight. One spouse is labeled as the 'spender'. However, it has been seen that in most cases this isn't an accurate approach. It is women who take care of most of the daily household expenses and therefore while you spend on certain things, your husband might be spending on different things. What you have to do is to follow a budget together to spend within your means.
- Tackling debt as a couple: Among all the issues that spark a fight among couples, debt is one of the biggest reasons as this is one of the place where couples disagree to a great extent. “Your debt is ruining us and you should look for some way out” is the wrong approach. Rather “it's our debt and we should decide how to pay it off together” is the right approach when you're a married couple. Determine the problem that is leading to overwhelming loads of debt and try to change them as soon as possible. Take actions jointly instead of blaming each other.
Spouses that can make financial decisions together are in better fiscal states than those who avoid making monetary decisions together. Don't try to change your partner's money personalities, instead try to improve them. If nothing works, get professional assistance from the free debt consolidation companies and secure your financial future.
Author’s Bio: Martha Jackson loves to write financial articles and she is a contributory writer associated with the Debt Consolidation Care Community and has written several articles on debt consolidation, debt settlement and get out of debt for various financial websites. She holds her expertise in the Debt industry and has made significant contribution through her various articles.