5 Ways to Help Couples Get Along Financially

When married, financial differences and differences in attitudes toward money can become one of the leading causes of conflict.

However, if you know how to balance and agree on finances, your relationship will become stronger. This also shows understanding and respect for each other.

Here are five tips to get you on track to achieving financial harmony.

Reveal your "ugly" secret

Are you a spendthrift or are you a stingy person, always too frugal in spending, do you have outstanding debts?

Learn about your partner's spending habits and goals and be bold in sharing with them your assets, current salary, debts, and spending habits.

There is nothing to worry about if two people have different financial lives. Just understand each other's circumstances and personalities, and you can set up a financial regime that suits both of you.

Find equality

Many people make the mistake of thinking that the person who makes more money in a relationship has the majority of the “power” when it comes to spending decisions. It’s best not to let income disparity get in the way of equality when it comes to money.

Set aside time each month to sit down and discuss your financial situation and plans. Maintain open and respectful communication, and be open with each other about your decisions. Even if you are the higher earner, don’t spend a large sum of money without consulting your partner.

In case the income difference between two people is too big, the feeling of inferiority will appear. However, we can use that small amount of money for big purposes. For example, paying for children's tuition, paying for insurance or paying for a family vacation... This method will help you not feel "inferior" and partly solve the common financial problem.

Use both joint and separate accounts

A joint account will help both of you cover all family expenses such as paying off bank loans, monthly bills, and children's tuition fees...

However, in addition to that common part, couples should keep separate money for personal expenses such as clothes, accessories, gifts, and hobbies.

Consider spending

Always compare the amount of money you earn with the amount of money you spend.

Keep all financial documents safe. Tell your spouse your account name and password in case of emergency. Review and update your list of assets, debts and account details together annually.

Always have a savings plan

Two people don’t always make large sums of money, and incomes can fluctuate. There are certain events that can impact your finances, such as accidents, home repairs, unexpected donations, etc.

We cannot foresee everything. Whether you have security from your parents or a stable source of income, savings are always necessary.

As soon as you have the ability to earn money, always have some savings. Getting married is a good condition to increase this savings so that money is always available when needed.

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