Avoiding Money Troubles in Marriage

By Elsie Dudukovich0 Comments

The correlation between divorce and fighting about money is strong.  While correlation does not mean causation, most people will agree handling money as a couple is a delicate skill to master.  Taking the time to learn and understand how you and your partner will share the financial responsibilities of your future will be time well spent. Here are a few worthwhile topics to discuss before you combine lives – and finances:
  • Views on acceptable amounts and reasons for taking on debt
  • Long term goals for investments and tolerance for risk
  • Depth of financial literacy of each partner
  • Funding for vacations, hobbies, and leisure – including hobbies only one partner shares
  • Views on giving or lending money to family
Check out Nerdwallet, a finance blog, for an easy to understand breakdown of six common approaches to splitting expenses.

Talking about money can be an emotional and difficult subject, but temporary discomfort is well worth the peace of being on the same financial path.