How to Keep Money Problems From Ruining Your Marriage

Don't let money come between your marriage

Dave Ramsey says it all the time, and it is a sad fact. One of the top causes of divorce in this country is money fights and money problems. Most of the issues come from not being on the same page when it comes to spending, and couples not even talking about their finances until a big problem is discovered. Tough economic times don't help either. There are a few things that you can do to keep money problems from ruining your marriage.

Difficulty:

Moderately Challenging

Instructions

1. The first step is to get on the same page. If you have separate bank accounts, join them. When you become married, you become one in sickness and health, for richer for poorer. Why would you keep your bank accounts separate when you've joined together in every thing else? If you want to keep a separate account so that your husband or wife can't see how much you're spending on things, you have a much deeper issue than money problems in your marriage.

2. Do a monthly budget together to keep money problems from ruining your marriage. Sit down with your paychecks, bills, and lists of wants and make a detailed written budget so that you know where every dollar goes. It is really easy to do. Make a list of things that need to be paid first. If you tithe to your church, that should be the first thing on the list. Next should be house payment/rent, food, utilities, clothing, gas, savings for an emergency fund, and childcare (if necessary). If you have any left over, that should go down to pay debt, start an emergency fund, or to do a few fun things with it.

3. Start an emergency fund if you don't have one. Try to have a few months expenses saved up so that if something happens, like a job loss, you want have the stress of "What are we going to do for money." It will be there in the bank waiting for you and keeping the stress of money problems out of your marriage.

4. This is the most important step to keep money problems from ruining your marriage. Get out of Debt. If there is any money left over at the end of the month, the first thing it needs to go to is paying off the debt. If there is no money left over, take a look at your budget. Are you spending a lot on food because you eat out every day? Cut back a little and start taking your lunch to work or start cooking at home. Are you spending hundreds of dollars on clothes each month that you hardly wear? Does the baby really need a pair of fifty dollar shoes when they can't even walk yet? Tighten the belt for a few months and see what a difference it can make. A pair of shoes feels so much more comfortable when they are paid for and you don't owe a credit card for them. Try the Dave Ramsey approach. Pay off your smallest debt first, and then move on to the next one. If there is something that you really want, but don't have the money for it, talk it over together. Work on a realistic savings goal. Don't get upset that you are not buying it because your mean spouse won't let you have it. The money needs to be there or there will be even more money problems for your marriage.

5. Once all of your debts are paid for and you have an emergency fund, you will feel such a freedom. You won't have to worry what will happen if you or your spouse looses a job or gets sick. Everything is paid for and you have extra money in the bank. Keep going with your written budget start saving to treat yourself to something like a vacation or new car. Start putting money into retirement accounts so that the two of you can retire as millionaires and never have to worry about money problems ruining your marriage again.

Tips & Warnings

• Always be honest with each other.

• Things will come and go, but the pain of a failed marriage can last forever. Don't let a love of things get in the way of a loving marriage.

• Make sure that you have life insurance. Hopefully you and your spouse will live to be old and rich, but things do happen, and you want to make sure that your family is financially secure if it does.