How To Find Peace as a Couple Financially

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Make sure you control cash before it controls you.

Dear Brides:

Have you discussed with your fiance, how to manage finances as a couple? This is a vital issue to address now.

Here are a few ideas that may help you to make peace with your partner, regardless of how much each of you make, and whos the primary breadwinner.

For richer or poorer-either might happen in your years together as husband and wife. But with a small amount of effort and a heartfelt air of compromise, neither the richer or the poorer has to bring grief to your marriage.

Here are five helpful tips:

    • Never try to work through your money problems while you
      e angry.
      Calm down, then make time to work it out. Its important to take the time to discuss and thoroughly understand your income, insurance plans, investments, and assets as a couple.
    • Never make an important decision if you both aren in agreement! A man may consider it a loving gesture not to worry his wife about such matters, but he isn’t doing her any favors. The fact remains that women usually outlive men. So the wife needs to know the state of the family finances. Some women may seem afraid of such knowledge, but these same women probably can handle day-to-day money management with strength and creativity. All they may need is some encouragement and coaching.
    • Don’t undervalue unpaid work, such as taking care of the house and caring for the children. Many people make the mistake of inferring, “Oh, you
      e just a housewife.” Or, “You
      e just a homemaker.” Realize your children and your family receive the benefit of a stay-at-home mom. Plus, we all realize its hard work! And the work you do around the home pays off not only in saving money, but in the satisfaction of working on your home.
    • Teach your children about finances from an early age. Getting your children involved adds another dimension of allowing them to learn skills they can use for the rest of their life. For they need to know that someones paying the bills. And this helps you now with your spending. Years ago when we had six kids at home, we gave each child a set amount of money to buy clothes. If the older kids wanted a higher priced item, then they paid the difference. We stuck to our clothing budget, and they learned the value of money.
    • As a couple, make a list of goals, both as individuals and as a couple. Compare your lists, then try to compromise to find a way to make sure those goals happen together.

Remember, its always your money together!

Until next time,

FarmerD