Most conflicts that occur in marriage and relationships are related to finances. Many people can begin fighting due to a lack of funds or will disagree on how to spend the money. To avoid having expenses interfere with you and your partner’s relationship, there are a few ways to prevent it from becoming an issue.
Use Separate Bank Accounts
If you both earn money and contribute to your household’s income, it’s important to maintain separate bank accounts if you’re prone to fighting. You can decide how you each want to contribute to the household bills or if you want to split it down the middle. Using separate bank accounts can avoid having conflict about certain charges that accumulate and can allow you to maintain your individual spending habits.
Have Your Own Spending Money
It’s important that you each have your own money to spend freely without having to consult the other person before making a purchase. Decide on an amount that you can spend individually each month and give it to each other in cash to avoid using it for other expenses.
Avoid having an opinion or making comments about how your partner decides to spend their money to avoid creating more conflict in your relationship. Your spending money should be a way to reward yourself for working hard and should be a fun way to eat out or have fun without feeling guilty.
Compromise
Couples can avoid fighting over money by finding common ground. You’ll each need to maintain a positive mindset towards your finances and should be flexible with each of your spending or saving habits. Learn a balance that allows you to both save and spend without hiding anything from the other partner. Have respect towards the other person’s perspective and attempt to have increased understanding to ensure that you can both reach a resolution.
When you confront each other about an expense or charge, approach your partner with love and care without acting domineering. It’s important to avoid acting controlling, which can cause the other person to become defensive and avoid abiding by the rules that you’ve established with your money.
Create a Budget
There are certain rules that need to be established with your finances to ensure that you can avoid fighting about how the money is used each month. Sit down and create a budget together to agree on how the money needs to be spent. Begin by making a list of each expense, which includes the mortgage, utilities, food, fuel, and debt. Determine how much money you have left over, which can be put towards a savings account or even a vacation budget.
Reviewing your expenses as a couple will also require that you look at how much you’re spending on your phone plans or auto loans. Discuss where you can spend less to ensure that you have more wiggle room in your budget for emergencies or to pay off debt. You may need to obtain an inexpensive policy with your auto insurance or cut the cord on your cable television.
Tackle Debt
Debt is an added pressure on each person who has accumulated the balances with student loans or credit cards. The easiest way to avoid fighting about your debt is to pay it off as soon as possible. Crunch numbers and decide how you can realistically pay it off each month. Agree to sacrifice by eating out less or by avoiding shopping until the balance is paid in full.
Appreciate Your Partner’s Approach to Money
You may argue with your significant other because you both have different ways of using your money. It’s important to appreciate how they use their money if it differs from your own. You can easily get into debt if you both have a tendency to spend and if there are two savers in the relationship then you’ll never get a vacation, making you both capable of bringing different strengths to the relationship.