![]() In other words, don’t wait until one of you splurges on a new TV or you go over budget on a vacation to set limits on spending. It’s also important to be preemptive, having discussions to set boundaries and expectations to avoid future problems. Don’t wait until the end of a long, stressful day or right before you have to walk out the door. Since conversations about money are often emotionally charged, choose a time to talk about your financial situation or make decisions when both of you are at your best. By maintaining an open line of communication regarding spending habits and upcoming bills, you may be able to avoid financial arguments. ![]() You and your spouse should be aware of how you spend your money, especially when it comes to significant expenses, loans, or ongoing fees. It’s important for both partners to offer full disclosure of their finances and be open about expenses, regardless of whether you’re married or you live together, have joint accounts or separate bank accounts. According to a poll, 32% of people in a serious relationship commit financial infidelity, either by hiding debt, credit cards, or bank accounts or spending more than their partner would be okay with. Unfortunately, honesty regarding money isn’t a guarantee in a relationship. Here are a few simple strategies that may help couples avoid financial friction. These differences can cause friction and discord, which then affects all other aspects of the relationship.īut no matter what the statistics tell us, money doesn’t have to be a stress point in a relationship. Some of us may be conservative, while others are free spirits. Some of us are savers, some are spenders. In addition, everyone has their own opinion on how to manage money, and most of us also have a unique financial personality. It’s no secret that finances tend to stir up plenty of emotions and cause stress in everyday life, so couples may try to keep the peace by keeping mum about money. Why is it so difficult for money and love to peacefully coexist? Emotions, Opinions, And Personality, Oh My! That stress often escalates when you add in a second party who might have different ideas about how to handle money. A recent study found that money was the leading cause of stress among Americans. Even if you are in the minority and arguments are rare, your relationship has probably felt the tension that finances can cause. Have you ever fought with your significant other about money? Or maybe a better question is, how often do these fights happen? Almost 70% of married or cohabiting couples admit to fighting about their finances, and disagreements about money are one of the top causes of divorce.
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