If you want to know how to stop money fights in your marriage, you should definitely read this article.
It reveals some top secret tips that will help you stop money fights in your relationship or marriage.
You see, whether we want to admit it or not, money issues in the home are among the major causes of fights in most relationships and marriages.
Yes, if money issues are not properly resolved this could lead to separation and divorce.
So, it is important to acknowledge the best ways to avoid and stop money fights amongst in your marriage.
For those who think money is everything, it’s not always true as money can’t always buy happiness!
Keep reading to learn some of the best ways to help you stop fighting about money in your marriage or relationship!
15 Best Ways to Stop Money Fights in Your Marriage
1. Come Up With a Good System to Spend Money
Couples can create a good system that would allow them to spend a specific amount on each item.
They can agree to have a ground rule in place to determine whether to spend a specific amount of basic daily items.
They should also agree on what purchases needed to be made ahead of time.
A clear system that everyone would agree to would stop money fights in their marriage.
2. Develop a Budget Together
If you want to stop money fights in your marriage then you draw up a budget together.
This is important because from the beginning of each month everyone should know how much he or she is expected to spend.
Each party must have a say in how much money is allocated to different categories of expenditures.
The household budget should not be left for one spouse to develop.
You can use some online budgeting and savings tools to help couples develop budgets and track their spending.
If at the end of the day, budgeting shifts to one side then the process of budgeting together would become a waste of time.
Zeta.com and Mint.com are two interesting budgeting platforms that couples can use to develop their budget together.
3. Understand Your Partner’s Money Mindset
Each partner must understand their partner’s money mindset so they know what to expect from each other.
Everyone’s upbringing about how to budget for money and make expenses will differ.
If the mindset of the other party is understood then it would be easier to avoid fights between couples with regards to money.
Once the money mindset of a partner is understood, both parties can work together towards ensuring that their actions don’t come as a surprise.
4. Craft Goals Together
Financial goals are the first step towards achieving financial independence.
You need to set financial goals with your partner to avoid conflicts that relate to income and expenditures.
Crafting your money goals should be made in a way that is clear to everyone.
There should be no confusion nor ambiguity as to what the family would achieve financially in a month.
If you have a clear money goal, then when there is any hitch, you should be able to see things from the perspective of your partner.
You can help each other understand your separate goals and then you map out your combined goals together.
Also See: How To Become a very Successful Businessman.
5. Stop Avoiding the ‘Money Talk’
One of the causes of money fights in marriages is the lack of discussions about money.
If couples set aside time in a week to discuss their finances, then they would avoid money fights.
When it’s time to do the money talk, couples must not hide any information from each other.
Facts about income, expenses, budgets, investments, and so on must be put to the table.
This will help bring clarity and solution where there is conflict.
6. Stop Jumping Right to the Big Topics
To avoid money fights in marriages, you need to gradually discuss money from smaller topics before going to bigger topics.
In other words, focus on smaller expenses before discussing huge financial investments or capital budgets.
Once you become comfortable with smaller little expenses then you can proceed to discuss larger expenses and long-term investments.
7. Agree on the Spending Limit for Each Partner
If couples have a joint account then it is a good thing. However, this can also pose a problem if one of the partners overspends.
Couples tend to have different spending habits and personalities.
To solve this issue, the couple should agree on a specific amount or limit that each partner is going to spend on the account.
If they stick to this rule then it would be easier to avoid fights about money in the marriage.
8. Stop Keeping Money Secrets
Couples must stop keeping secrets about their finances if they want to stop money fights.
Keeping secrets can be toxic to marriage if one of the couples discovers that their partner has spent some undisclosed amount, accrued some debt, or mismanaged some funds.
It’s best to be open about money issues in the relationship so that everyone would be in the future.
Keeping any type of secret is usually devastating when it is revealed. With money secrets, emotions can flare and explode.
So, stop keep secrets about money if you want to stop having money fights in your marriages.
9. Work Together to Deal With Debt
To avoid money fights in marriages, the couple must deal with debts.
Yes, there are no mincing words that a family could be faced with different kinds of debt.
How you deal with debt will determine how you get out of it.
There are different kinds of debt and couples must identify each one and take concrete steps to get out of them.
Both parties must agree to perform an accounting of debts and apply the common payoff strategies.
You can agree to pay off the smallest interest loans first or higher interest debts first.
So, if couples deal with debt well and fast, they will have less conflict in marriage.
Both partners should have an honest and nonjudgmental discussion about how to deal with the debts that either or both of them have incurred.
10. Share Emotions Not Accusations
One of the strategies that couples can apply to do away with money fights is to share emotions during and after financial meetings.
In the course of a family financial meeting, if a disagreement about a figure or spending occurs, then the couple should own up and share emotions.
Yes, when financial decisions are made the couple should be understanding and respect the emotions of each other.
This is better than accusations, name-calling, silent treatment, and yelling which would only escalate into fights.
11. Give Each Other Freedom to Spend on Discretionary Items
Money fights in marriages can be avoided if couples give each other some breathing room towards expenses.
Some experts recommend that couples should set aside a fund known as ‘fun money’ that they can use with freedom.
Partners should allow each other separate budgets to spend on discretionary items of their choosing.
12. Remember the Golden Rule
The golden rule is all about treating others as you would want them to treat you.
This should be applied in family finances to avoid money fights in marriages.
If you don’t like your partner calling you names during money meetings, don’t call him or her the same.
When you argue about money, guide what you say or do. Treat your partner the way you want to be treated.
13. Sign a Prenup (or Postnup)
If you want to avoid money fights in marriage, it’s a good idea to consider signing a prenup or postnup agreement.
A prenup is a contract between two people made before marriage or civil union, for example stating the division of property if the couple divorce.
A postnup is a contract between two people that will stand after the insolvency of the marriage.
It also takes care of property division after the marriage.
If the parties are clear about prenup/postnup then money fighting in the marriage will reduce.
14. Address Family Matters
You can avoid money fights in marriage if you address family matters fast.
Discuss with your partner how to help each other when it comes to family issues.
Extended family money issues can cause frustration and misery on a partner.
If the solution involves finances, then it would be wise to help each other out.
15. Make More Money
It’s actually true – sometimes the obvious solution to money problems is to make more money. Of course this isn’t always the case but it can help in many instances.
Thanks to the Internet you can now find legit and genuine ways of making more money online right from the comfort of your home.
Some of them are even fun activities that you can do and still bring in extra cash.
Even stay at home mothers can make money doing jobs from home. Some of these are fun jobs that can be enjoyed while still bringing in extra money.
Below are some ways to make extra money you might not have taught about:
- Ways To Make Extra Money On the Weekends
- Ways To Make Easy $10 You Need Right Now
- Ways To Make Easy $200 Within Just 1 Day
- Ways To Make Easy $1,000 Very Quickly
- Ways To Make Much Needed Money Right Now
- Ways To Make Extra Money From Home
- Ways To Make Money Proofreading for Amazon
- Ways To Make Money Doing House Sitting Jobs
- Ways To Make Money Sharing Smart Ideas
You can read and take action on any of these methods without spending any money. Yes, most are completely free to get started on, if you are serious.
As this article has shown, it’s indeed possible to stop money fights from happening in your marriage or relationship.
It also showed some of the very best ways to stop money fights.
But of course, apart from the tips in this article, you can also seek the help of a financial advisor to help you solve money issues in the family.