Money, for anyone of us, is a sensitive topic. It’s one of those topics, which couples skirt around at all times. Couples that are inclined to avoid discussing this topic wind up in a rift. Many feel under-appreciated when they are not included in an important financial decision. Some lose the bond with their partners.
Why wind up in such a situation?
When we consider marriage as a union of two souls, why do we avoid to discuss the most crucial issues in it? Address money concerns with your partner; accord your views, and get their opinions/suggestions on financial decisions. Show your disagreements. Toss out your plans, and it’s only then can we make it work in the long run.
Here’s why it is essential that you open-up about money.
Money is amongst the top 3 issues couples fight over.
Money is the root cause of numerous problems. And honestly, married couples aren’t spared by this curse. Frequently, we hear cases that revolve around couples fighting over money. Most of us dissent on each other’s spending habits, savings, and sometimes investments too. Others even hide specific details, particularly when it comes to spending on their households.
To deal with such situations, you must open up with your spouse. Do not leave any detail. Keep all things on the table – income, expenditure, pending loans, and something as insignificant as loaning 1000 Rupees to your dear friend. Bringing transparency by conversing about money and plans, you can lessen the misunderstandings and fights over money with your spouse.
Any incorrect judgment reflects on the family, not on a single individual.
We have always been told that marriage isn’t about two people only. But, eventually, it reflects on our family. We must consider marriage as a unit, rather than taking it as an individual event. As a single wrong step and the entire family will have to pay the cost.
We all must have heard instances where the head of the family makes an investment decision without consulting with their partner, and the family loses a large chunk of their savings. Some even lose their lifelong savings and some land in a neverending family mess.
It’s always better to involve your partner while taking financial decisions to bring clarity and another point of view on the situation. Discussing money with your spouse could reduce the probability of making a blunder. And if something does go wrong, the duty would be shared by your spouse as well. There will not be any blame game.
You don’t need to look for support everywhere. As they say it ‘Your partner is there for better or worse.’
Harness the experience of two – split the jobs and manage better
Everybody has their area of expertise. If you’re good at saving money and your spouse is good at investing it. So you can divide your jobs. You can have the final say in what both ought to buy – identify the areas where you collaboratively could save. Where to invest must be picked by your spouse. This way, you can exploit the wisdom of two. At times, when you make mistakes. Neither of you will feel overwhelmed by obligations. You both can split your day-to-day tasks.
It’s not a simple road to have stable relations with your spouse on financial fronts. Some avoid it for fear of argument or struggle. But it’s impossible to avoid this topic always. If you do not agree now, you won’t accord five decades down the lane. Therefore, you must talk and talk soon about your financial management.
What are your ideas on this issue? How do you manage/control a messy financial situation with your partner? Please, share in remarks below.