How a couple should deal with money matters?

Question

I feel that money is one of the main reasons of conflicts in married life? Any tips on how to deal with money matters in married life?

Answer 1

I am terrible with budgets...so my husband carries the checkbook. We sit down together (together is the key word here) and pay all bills. We make all money decisions together. I make good money and so does my Husband. By doing this together...we both know where all our money is/going. This seems to keep peace in our marriage. Best Wishes for a happy future together.

Answer 2

Have you ever sat down with your spouse and discussed money dispassionately?
Not tu tu, mai mai!
Discuss. Decide (jointly) on the 1st of every month what are the family's priorities, the commitments that have already been made, and how much cash is available for spending THIS month.
Have you a spreadsheet where you faithfully log every expense, under different columns?
Make sequential horizontal columns... columns for common expenses like Rent, electricity, water bill, Petrol, etc.
Then a column each for you, the spouse, the kids (each one separately), where money is being spent EVERY day. All members must fill this Log sheet faithfully, every single day, down from 1st of the month to tha last horizontal line for the 31st.
At the month's end, you can total up the money vertically in each column, to know how MUCH each expense is! When you see the TOTAL money spent by you in a whole month on --say the Club, or the daughter on ice creams, you will be shocked!
That will indicate where you can cut out wastful spending, where you may save and invest wisely, etc.
Good luck. give me a feedback, if this gets you on the move!

Answer 3

See first both husband & wife should agree that whatever money earned by both should be used for betterment of whole family.
Depends on total monthly earning both should sit & deside budget for the month & maximum savings to be achived as per family requirement. Once this is agreed then savings to be planned & available money for monthly expences to be further broken in to msub heads as provisions, Individual pocket money, Intertainment Education & any other sub head. Then day to day A/c to be written jointly every night before going to sleep to moniter the expences, Also plan to workout jointly , how to curtal the expences. As all exercise is done jointly with mutual agreement so no0 conflict will occar & There will be a happy & prosperour married life.

Answer 4

We placed the two tests in one account for the charges (own loan utilities,insurances,and so on.) some is going into an account for any emergency, then what's left over is for groceries, cleansing products and needs no longer needs. it could additionally be a good concept to furnish one yet another a series quantity of money, no longer very corresponding to $20-$50 besides the fact which you be certain, so which you each and each have money that should not be puzzled so which you will by potential of makeup, hair stuff, lunch out, Starbucks and so on. even have in easy terms one individual use the examine e book. If there are no longer any charges to pay down it truly is continuously good to shop for a holiday.

Answer 5

eeeeewwwww! A very touchy subject indeed. Depending on what the conflicts are is where you need to start. You both need to sit down together with no distractions and just go through your finances/bills at the same time. You both need to be involved in the money making/spending decisions, and need to AGREE on them. Then no one is unaware of what's going on......and I have found that if you have a joint checking account, plus an individual one for the both of you, it can go a little easier. Guys don't want to spend $$ on womens needs/must haves, likewise, girls don't want to pay for his personal items. Just sit down like adults and hash it out......remind each other of why you got married in the first place, you love each other and care about each other enough to work it out........this is one of those "for better, for worse" things! I hope you get things worked out, and blessing to you.

Answer 6

It doesn't matter how you deal with money issues, it only matters that they are dealt with. Make sure every bill is paid every month. The fights start when the power and water are cut off, or when the credit card won't work because of a missed payment.

Answer 7

I agree. Money matters should be dealt with carefully not only in married life but in every relationship. The article below will be uselful to understand how to deal with money matters:

http://interesting-readings.blogspot.com/2006/10/married-7-money-tips-you-must-know.html

Answer 8

It's a hard issue, but both parts should bring $, also share duties or caring of the kids.
Both should establish a budget and a saving account for the difficult times.
Also they could use part of their wage in their own hobbies, with their own friends, to keep growing up.
Then when the money lacks, the problem begins, because it means unemployment, quarrels, disorder, separation, fights.
How prevent it: good will, entrepreneurial spirit, perseverance, planned savings, do not overspend even when you receive your wage.
that's my point of view....

Answer 9

You sit together to make an income and expense sheet. Pay the bills together takes the responsibility off one or the other and allows both to see what you can or cant spend.

Answer 10

You asked, "How a couple should deal with money matters".

First of all I would like to relate, though this problem has infected our peace full lives, but it has subsidized in due course, upon the maturity of minds.

If the family is financially unstable, the family members should rise together and support one another in seeking the change in career if it is not achievable since past many years. If wife is talented she should be allowed to share in generating household income, Believe me It is a Man who dreamt of a having a communicating.
Result=we have live video conferencing at our finger tips. So the things are possible if we put our mind...MIND it, it is mind, your own mind which can solve this problem. What is more pleasant, than, when two minds have joined in to solve the task, it is sure to give you the solution if you discuss among yourselves. I will advise you both of you give each other some time, away from your house you two alone, each of you dreaming what he/ she can do in reality, listen to each other, do not issue an contradicting statement and fold up your meeting with feeling hurt once again. Give each of you two chances to decide for an opening.
Most Important, be prepare for changes in your daily life, cooperate but don't get confused. Boost each other in true sense, (not in a comic way of dreaming an extraordinary unachievable expectation- and fall flat).

Apart from it, on a financial ground, create a list of expenses, categorize and set its priority level. i.e.Group. It as Essential and non-essential Expenses.

Where as under Flexible Expenses, segregate expenses as:
Essential : milk, food, fruits, grains, edibles,
Non-Essential: ready to make stuff, biscuits, drinks, ice creams, chock lets.
(Don’t forget to include the cost of: cooking gas, maid’s salary.

Under Fixed expenses: Children’s school & Bus fees, Rent of the room, Electricity, Telephone, Daily Traveling, Railway/ Bus Pass.
Towards unexpected expenses open a separate account or have control on savings to save each month some amount to cover unforeseen expenses:
Medical expenses (at least; non-Hospitalization), Maintain ace of household article, i.e.: water purifier, refrigerator, iron, electrical appliances,
Make a special provision for festivals, Celebrations during the whole year, clothing, shoes, bags, educational.
Do not forget paying off any EMI on existing loan, Premium on Insurance Policy, Credit card as non payment penalty will be almost equal to your one months cost of Essential on an annual basis. To get exact shape of your vanishing figures create a more detailed group and categories to locate your pocket hole.

After covering above you should save something regularly (P.P.F. a/c- for long term saving or Recurring/Fixed deposit a/c.) which will be ideal at your retirement age. Set a Goal of saving today if you are able to achieve 10% of your Income, you will protect you of any unseen changes in life. Do not Speculate in other financial instrument until you are financially stable enough to sustain the losses on stocks/ m.f.s etc.

After covering above now you go for bingo- concerts, movies, restaurants, jewelry, unwanted shopping in shopping malls,
book warm should rather join good library rather than investing in discounted book/ magazine it is easy to acquire a good book but difficult to maintain it thru the life If your all in one at your home.

Above All Keep Harmony Among U2