Money fights and money problems are often the most cited cause of divorce in the United States. If you have ever had one of these money fights, you can probably understand why it can lead to divorce. Emotions often run high and defensiveness even higher. How can you possibly help prevent these fights?
It’s easy, do a budget. Why a budget? If you can start agreeing on where to spend your money, you are basically agreeing on your hopes and dreams. For example, you may both share the dream of going to Hawaii for vacation in three years. You will have to make that happen in your budget starting now so you can pay for it when the time comes.
Just to clarify, I am talking about doing a budget BEFORE each month begins. Many people believe doing a budget means looking back at how much you spent where. I want to encourage you to sit down together and spend the coming month’s income ON PAPER. Every dollar should have a name, even if that means you are purposely putting money into savings.
If you can start agreeing on money and get excited about having a plan together, money can become one of the best parts of your marriage. Just get that pencil and paper out and get to work.