If your partner is great at organization, then maybe they focus on keeping the transactions and bills organized.
Handling finances how to#
LEARN FROM EACH OTHER’S STRENGTHS and figure out how to best utilize those A “happy medium” way of making both people feel comfortable is maybe having all the bills automated (digitally), but then budgets are worked out by hand in a visual pie chart if that makes the person feel more comfortable. If this couple starts their finances by doing everything by hand, know that it could make the other partner feel anxious. Maybe one of you preferred to do everything digitally, and the other preferred to do everything on paper. Understand each other’s process before you create one that you do together.īefore you got together, each of you had your own way of handling your money. Sometimes it makes sense to each have a separate bank account, and if that is the case for your relationship, I encourage you to just be fully transparent about those transactions. These two characteristics do not usually create a happy marriage. But to me, I think that by not being willing to combine incomes and pay all of the bills together, it is a sign of selfishness, and can even be perceived as non-committal. (I share my passion on this and the benefits of it in the article, “What is Mine is Yours.” )Managing finances can already seem daunting, but what a great feeling it is to have a partner to help ease that burden! I realize that sometimes certain personality types make the idea of sharing money difficult. I have learned that combining incomes, and managing the money together, is one of the most important things to do for your marriage, because it’s a partnership.
Decide if any of these tips are something you should implement if you aren’t already.ĥ Tips for Handling Finances Better in Marriage 1. Talk about these ideas with your partner, see what their thoughts on how things are being done currently. **As you read these tips, I encourage you to evaluate your own money management process. And you can do that by following these tips below I have come up with from personal experience and research that I think will help couples manage their finances more happily! I think sometimes it’s not about the money, but rather the process of managing the money how it’s discussed, the organization of it, the responsibility, how the money is earned and by whom (job satisfaction factor too), understanding it all, balancing between different spending habits, etc.īecause of this theory of mine, I think it’s important we evaluate and consider each of our own current money management processes. At least, I believe that there has to be. But let’s dissect what that actually means for a second: Was it because they didn’t have enough money? Someone had bad spending habits, weren’t truthful over finances? Because there HAS TO BE an underlying cause. When divorced couples are asked what one of the main reasons were that lead to their separation, a lot of them tend to say it was due to finances. It’s pretty common among couples to fight over finances. So now I’m making a revision that yep, finances have caused contention for us! All I had to do was wait until the real world hit apparently, haha. So our finances got a little more complex, and therefore the responsibilities of managing them got a little bit more intense. When I originally wrote this draft blog post about 4 years ago, I mentioned that our way of doing things with our finances has been very successful for us, and that we didn’t have issues between us due to finances… WELL, then we bought a house, and cars, and started investing in retirement, got fun medical bills, doing our own side businesses, etc.
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