How to Avoid Money Disputes in a Relationship

Although cheating is close behind, money is the primary reason for break-ups in marriages and relationships.

Difficulty: Moderately Easy

Instructions

How to Avoid Money Disputes in a Relationship

1. Discuss a budget amount if both partners have a debit/credit card, credit card, or checks in a joint account. If both partners stay within their limit, the other partner will not have to keep track of his spending habits.

2. Contact the other partner when making expensive purchases. Checking a bank statement or credit card statement only to find out that the available balance is far less than what the other partner expected is a surefire way to start an argument. Forewarn your partner if a big gap of money is going to come up missing, so the other partner can spend his money accordingly to make sure the budget stays in tact.

3. Shop together. If both partners shop together, then the communication is open. If one partner feels that the other partner's purchase is not a safe or reliable choice, then both partners have the opportunity to share their thoughts instead of finding out surprises later.

4. Do not hide money from the other partner. Not only does this break the trust in the relationship, but it also creates conflict. If one partner sees that the other partner has magic money to buy things that are not realistic to her budget, then he will assume he can spend money as he pleases too. The whole purpose of a joint account is to work together as a team.

5. Assign bills to each partner. Bills are necessities, but there are many wants that each partner will have. However, if each partner must be responsible for certain bills, then the other partner will not have to worry about that bill being paid in their budget. If both partners make sure to take care of and schedule their spending habits around the bills, then both partners have more of an idea how much money they can put aside for fun spending.

6. Consider keeping separate banking or credit card accounts. If neither of you can agree on the others' spending habits and the relationship turns into parenthood with an allowance, avoid the disputes and keep your own spending your business. As long as all joint bills and family or relationship expenses are paid, there shouldn't be a problem with what other money is spent on.

7. Be realistic about your spending habits and those of your partner. If you want to buy front row tickets to a White Sox game and she does not have enough money to put currency on her Chicago Card to go to and from work on the el train, be willing to share. Never let your own wants dictate her needs and vice versa.

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[saravalor]

on 8/20/2009 Great advice!