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Money
Matters: Strengthen Your Marriage by Putting
Finances in Order
Did you know that 43% of all married couples argue
over money issues, making it the major reason
couples fight? If you and your spouse handle money
differently, now is the time to talk, establish
expectations, and draw up a financial plan.
Money is a very big part of a marriage. Having
enough to spend, and to do the things each wants to
do, is important to both parties. When couples are
not able to do that, then other issues pop up in the
relationship. When husband and wife are not on the
same page as far as family finances go, other
difficulties inevitably arise.
Effective communication often emerges as the most
difficult obstacle to establishing goals and
expectations, and developing a financial plan. Many
of us have been taught during childhood that
discussing money is somehow inappropriate. Couples
must understand that it is not only appropriate but
absolutely necessary to managing finances in a
marriage. Just as finances must be planned in a
business, they must also be planned in a marriage.
You must communicate in spite of any difficulty.
For example, how do you get your spouse to
understand that he or she will need to curb their
spending habits so that you both can begin putting
money away?
There s got to be a viable agreement, because
most couples discover that a lack of money, a lack
of spending control, or a lack of fall-back savings
eventually causes other problems in a marriage.
Little things grow into much bigger things. However,
as emphasized by Daniel Smith a noted financial
expert cited in The Marriage Medics, future
arguments over finances can be avoided by simply
communicating, creating an understanding of
expectations, setting objectives and agreeing on a
financial roadmap.
The Marriage Medics outlines the following
financial plan of attack for couples of any age:
1. Stop living beyond your means.
2. Treat the household like a business.
3. Create an income-and-expense statement.
4. Create a balance sheet.
5. Create a budget.
6. Figure out how to pay down your debt. Agree on
a plan of action in which you both share equally in
cutbacks.
7. Find ways to cut expenses.
8. Go on a debt diet starting with the little
stuff.
9. Have only one credit card for your entire
family.
10. Celebrate when you pay off a debt.
| There are many resources for help in creating
family budgets and living within them. For instance,
Jim Miller, a Registered Investment Advisor, author
of Retire Dollar Smart, and the host of a financial
advice radio show is an excellent source. Visit his
web site at: www.retiredollarsmart.com. In sum,
married couples have an important opportunity to
plant the seeds for a healthy marriage by simply
talking with each other, being realistic about
expectations, and making that financial plan. Money
matters! |
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Copyright 2005 Cynthia Cooper
NOTE: You may run this article provided you run
it with the bio box intact. Please email a copy of
your publication with article in it to ArticleDeptBill@rtir.com
Cynthia Cooper, Ph.D., is a clinical
psychotherapist and co-author of The Marriage Medics
which you can obtain via http://www.themarriagemedics.org
Article Source: http://EzineArticles.com/
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