Managing money can be tough when you have conflicting ideas and values with your spouse. Not only is it frustrating, this can also take a toll on your relationship. It will not help if you constantly nag your spouse about money, too. What you need is strategic solutions to ease the money tension. Below are some of the most common money problems in marriages and how to solve them.
- Feeling blamed in money talks
If you have financial problems because your spouse cannot stick to a budget or carry a lot of debt, it will not help if you blame them about your shared financial troubles. Instead, approach this delicate situation with a can-do attitude. Do not use blame and shift focus on moving forward. Set goals and create milestones to track your progress. Ask your spouse to help you come up with a plan to improve your financial house. Work together as a team.
- Refusing to budget
Sticking to a budget is hard enough, doing so with a reluctant partner is even harder. The trick here is to get your spouse to participate in the discussion. Come up with a basic budget that covers bills like groceries, utilities, and gas, and talk about how you will pay for these, along with other expenses like shopping and dining out. Switching to cash is a good start. You can break down the money into weekly amounts per category until you are used to budgeting. It is also harder to spend money when you literally see it going out of your hands. At the end of the month, go over your budget and see how you did. This will take the pressure off and hopefully stop any fights.
- Belief that everything will be fine naturally
Some people are flexible and relaxed about money. They think it can sort itself out naturally without effort. This is a hard situation to be in when your spouse holds this belief. Trith is, financial success requires a plan and executing it consistently.
To handle this problem, give your spouse a reality check. Talk about your goals like buying a house or retiring somewhere nice and compare it to your current financial situation. Put together an estimate of the level of savings you need to accomplish and demonstrate to your spouse whether or not you will achieve that goal at the rate you are operating now.
With this process, your spouse will see the importance of a financial plan. Looking at the facts can get them inspired to take action.