Money matters for couples

When it comes to matters of the heart, no on likes to introduce as crass a subject as money, but the fact remains that problems with money are one of the leading causes of divorces and separations, so getting a handle on your finances before you say I Do is an important consideration.

It is important for all couples to discuss their feelings about money and investing. Often couples have vastly different ideas about the best ways to save and invest, and this difference of opinion can cause serous problems in the relationship down the road. It is important to get those problems out in the open as soon as possible, and to come to some sort of agreement.

One agreement that typically does not work is the one in which one partner makes all the financial decision. Many people think that this type of arrangement will work, especially if one spouse is more financially savvy than the other. However, in the vast majority of cases, this unilateral decision making will backfire and cause a great deal of resentment.

For most couples, the best strategy is to look at money as a team effort. From making money to saving and investing that money, it is a good idea to consider financial issues a team effort, and to approach them in that manner.

It is important, for instance, that each partner agrees to consult the other before making a major purchase or investment decision. While some small purchases can and should be made unilaterally, it is important that both partners agree on any major purchase. Getting all these financial issues out in the open right away is the best way to avoid conflicts down the road.

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