Exploring a Common Marriage Problem: Disagreeing on Finances

Nearly all couples experience financial disagreements at some point in their marriage, and they often vary in terms of severity. It’s especially difficult to manage when couples disagree on how to spend money and save it, leading to tension and unhappiness. Fortunately, couples everywhere have been able to navigate through these disagreements and find common ground in order to reach financial harmony. Here are 5 strategies that couples have found effective to survive when they don’t agree on how to handle their finances.

1. Make a Plan and Stick to it

When a couple cannot agree on money matters, one of the best ways to find common ground is to make a money plan. This plan should be written down and agreed upon by both partners, and it should include specific financial goals for each partner. To make it work, couples should check in together periodically to assess the plan’s progress and make adjustments as needed. This will help both partners stay accountable to their obligations and remain committed to their financial future.

2. Create ‘Guilt-Free’ Spending Money

Even the most frugal couples need some wiggle room in their budget. To avoid a lot of disagreements, couples can agree on certain amounts of money that each partner has the freedom to spend guilt-free. It’s important to remember that “guilt-free” doesn’t always mean “excessively”. Agreeing to realistic spending limits allows couples to maintain a strong financial foundation while also giving each partner the freedom to enjoy the occasional indulgence.

3. Take Financial Breaks from Time to Time

Sometimes the best way for a couple to agree on financial matters is to take a break from talking about them. Once both partners have set realistic financial goals and are comfortable with their budgets, they can agree to put the conversation on pause until part of the goals have been achieved. This will give each partner time and space to focus on other things and can also give the couple time to connect in other ways.

4. Designate a Financial Decision-Maker

Sometimes, no matter how much couples talk, they still may not be able to reach an agreement on financial matters. When this happens, it’s usually best to designate one partner as the final decision-maker, who then can move forward with the appropriate action. This may mean giving up some control, but it also will help ensure that the process is not stalled indefinitely. This can be especially helpful when dealing with large purchases such as a new car or home.

5. Consider Professional Financial Advice

When a couple is unable to agree on financial matters, consulting with a financial advisor can be a great way to come to a mutually beneficial resolution. Not only can a financial advisor help sort through the facts and numbers, but they can also provide valuable insight that can be instrumental in reaching a compromise. This approach can be beneficial even for couples who have a good handle on their finances and are simply looking for some extra guidance when dealing with complex financial topics.

Conclusion

Many couples face disagreements on financial matters, but with a little patience and creativity, these disagreements can actually become an opportunity for growth. Whether it’s creating a money plan and sticking to it, setting up “guilt-free” spending money, taking financial breaks, designating a financial decision-maker, or seeking professional advice, there are many strategies couples can employ to bridge the divides caused by financial disagreements. Through the use of these strategies, couples everywhere have found success in making their marriages stronger and happier.

FAQ

Q: How can couples manage financial disagreements?

The best way to manage financial disagreements is to create a money plan and stick to it. This plan should be agreed upon by both partners, and it should include specific financial goals for each partner. Additionally, couples should agree to set up “guilt-free” spending money, take financial breaks, designate a financial decision-maker, or even consult with a financial advisor to help them reach a mutually beneficial resolution.

Q: My ex married a wealthy man, can I stop making child support payments?

No, in most states, regardless of your ex-spouse’s income or wealth, you are still obligated to make child support

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