Money issues can certainly wreak havoc in a marriage. Lack of money or lack of the ability to manage it well can definitely cause harm, especially when times get really tough. Couples need to employ tested strategies and develop good financial skills in order to protect themselves, their assets, and their marriage. They need to work money problems out together instead of taking them out on each other.
Outstanding debt can add a lot of stress to a marriage, so it is important to draw up a budget together and stick to it. One of the fastest ways to get into financial trouble is to spend beyond your means. Impulse purchases are also problematic, especially when it comes to big ticket items that have not been discussed and agreed upon.
Try to purchase less on credit and get rid of high interest credit cards. Agree to discuss any purchases over a set price, say $100.00. If you both don’t agree that it’s a worthwhile purchase and that you can afford it, it must wait. If you are having serious financial problems, consider examining The Debt Diet, as seen on Oprah Winfrey. You might also want to speak to a credit counselor. You’ll likely be surprised by how much money you lose on interest, unnecessary fees, and frivolous things that you can cut back on.
Owing money to your spouse’s family members or being owed money by them can also be a point of stress and controversy. It’s wise to limit lending and borrowing between families, if possible.
Another big issue when it comes to money is who makes more of it. It shouldn’t matter in a committed relationship, since it really belongs to both of you and is intended to pay for the things that keep both of you healthy, comfortable, and happy.
Money, or the way money is handled, really can make or break a marriage, so find ways to deal with money problems together before they get out of hand.