Dos and Don’ts for Dealing with Financial Stress in Marriage

August 8, 2010 by STRESS RELIEF TUTOR
Filed under Stress Information, Stress Management

Financial stress in marriage is ranked as one of the biggest culprits of today’s ugly divorce cases. It is saddening how money can break even the strongest of bonds. Financial difficulties stress in marriage can arise from several different scenarios – interfering in-laws, mortgage crisis, disagreement on household budget, starting a family, among others. Even petty little arguments about who spends more, and who earns less can destroy a once good marriage. Financial difficulty is something married couples cannot avoid all together, but it is also something that can be dealt with positively.

Here are some tips on how to cope with financial stress in marriage before it comes between the two of you.

Tip # 1

Let your partner know how it was for you growing up. If your partner tends to be too frugal about money, it may have a lot to do with where he or she came from – family background and how his or her parents handled money. How the both of you handle money can be traced back to how your parents thought you to do so. Once you start a family, you can compromise with your partner as to how you’d like to handle the family’s finances.

Tip # 2

Be open about your short-term and long-term goals. This is something that needs to be done way before you get married. If you did this then, your plans may have changed when you got married, so it is important to talk to your partner about it. Why is it important? First, it allows your partner to be get in on your personal goals, paving the way for more trust and involvement in each other’s lives. Second, if you set aside a percentage of your monthly paycheck, your partner won’t be dealing with crazy ideas about how you spend you money. Talking about short and long term goals helps you save up for the purpose. For example, if a short-term goal is buying a whole new set of furniture to replace mold-ridden ones, you will need to agree how much money you can afford to spend. A long term goal is going on a vacation. You can both open an account and put in a specific amount every payday.

Tip # 3

Talk about your plans for a family. When you are a married couple without children, you may be comfortable living for two. But what happens when you decide you want children? Some couples want to have kids, but they aren’t financially ready? Think about how you’d like to raise your kids, as this can have a major impact on your finances. For instance, one of you, usually the mother, may have to stay home for a few years to take care of the kids. Will she work from home? Or will the family depend entirely on one parent to work?

Tip # 4

Be proactive in budgeting for the household. In some cultures, a husband who works in an office comes home with a paycheck which a wife creates a budget for. This doesn’t work all the time. Since both partners have needs, they should be able to talk openly about them. Both partners must budget accordingly so they are both aware of where their money is going, and if they’re actually saving any.

Just following these tips can go a long way towards preparing you to have a marriage with few challenges due to finances. Therefore reducing your chances of having stress caused by your finances.

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