A successful marriage needs a lot of things. You need a loving couple that is completely devoted to each other, a shared vision of the future, and plenty of good communication skills. As great as marriage can be for the right people, it can also be thrown off track by a lot of issues too. One of the biggest concerns with many couples is money, and how certain loans and expenses might contribute to marital arguments.
If you’re worried that your budget could be throwing your entire relationship off track, then we have a few tips that you might want to consider.
1.   Combine Your Finances
It takes a lot of trust to combine your money with your spouse. However, if you’ve already chosen to spend your life together, taking this next step might not seem like too much of a problem. Although there are some risks to combining your finances with your spouse, you’ll find that having one account to keep track of is a lot easier than having to manage multiple.
You could keep separate savings accounts where you can save towards your individual goals and wants but have the same spending account where you both keep track of how much you’re spending on a monthly basis. Some couples go the other way around and choose to have a single shared savings account instead. It all depends on what you need.
2.   Discuss Big Decisions
The most important thing you can have in any marriage is good communication. It’s tempting to decide that you’re going to spend all the money from your next paycheck on something for yourself, but if this means that your partner is going to have to spend more on household bills, it’s not very fair. If you’re going to be spending a decent portion of your earnings on anything, maker sure you talk it through with your spouse first.
Sometimes, you may decide that the best option isn’t to buy something outright and use all your savings but get a loan that you can pay off over an extended period of time. This will involve thinking about whether it’s best to get a loan as an individual, or on a joint account with your spouse.
3.   Budget for Fun
Just because you’re married doesn’t mean that you can’t have any room in your budget for fun anymore. Just as you made time and money for dates before the big day, you also need to put money aside so that you can have fun in your marriage.
Talk about how much you think you should reasonably put away for dates each week. You both need to agree on this, particularly if you’re going 50/50 on whatever you want to spend. You might also want to put something in your budget for things like vacations and shared purchases too.
Although it’s true that budgeting requires some compromise, if you cut all the fun out of your budget, then this could lead to arguments and unhappiness too.
4.   Plan Budget Updates
Life chances more rapidly than most of us realize. Just because your budget works for you now doesn’t mean that it will work six months from now. Your or your spouse could have a sudden change in income which means that you have to find extra cash elsewhere. You might find that you end up with more money to spend, which means figuring out what you’re going to save for and how much money you’re going to use on a monthly basis.
Once every few months, plan a day to sit down with your spouse and discuss your budget, as well as any financial goals that you’re working towards. You both need to be on the same page if you want to accomplish these targets.
5.   Take it Easy
Finally, remember that money can be the cause of a lot of stress in many households. However, you should never let it get the better of you or your spouse. Money might make the world go around, but it’s not the be all and end-all of everything. If you’re worried about something, whether it’s increasing bills or a drop in your wages, make the time to talk to your spouse about it.
More often than not, you’ll find that it’s easier to come up with creative solutions to problems when you have the guidance and support of your partner to help you. Remember that you’re both in this together, so don’t try and figure things out alone!
