According to studies, disagreements about finances are a leading cause of stress in relationships. Over 59% of all divorced American’s cited arguments over money to be a major source of friction within their marriage.
If you and your spouse are not on the same page about your finances it can bleed over into other parts of your marriage and family. Here are some important questions you can start with when breaching the subject of finances with your spouse:
1. What are your priorities for our money? Make sure you are specific. For instance, after monthly bills are paid what percentage of what is left over would you like to allocate to a vacation fund, savings accounts, fun money, etc.?
2. What are your long term financial goals for our family? Are you wanting to save for a big trip, your first home, to pay off debt by a certain time, etc?
Whatever you decide, when it comes to your finances, both parties need to be involved in the decision making. Leaving one spouse to make all of the money decisions can cause the other spouse to feel like they are unequal in their partnership or as if they are not trusted. Those feelings can fester and lead to other issues down the road.
It is best to talk these type of things through before you are married but its important to remember that it is never too late to get on the same page about your finances. For help talking through things, consider marriage counseling. Insight Child & Family Counseling specializes in a wide array of therapy including anxiety and depression counseling as well as marriage counseling. Give us a call today at 972-426-9500.