There will probably be times when the two of you are at odds regarding your finances, either due to differing viewpoints on how to do things financially, or perhaps even because you are financially incompatible. Follow these five steps to stop fighting about finances and avoid the financial problems that can lead to divorce. Does your spouse feel like you set up the budget or that the categories are not reasonable? Did you dictate the budget and not make a team effort? Or is the budget you created for your new family simply not realistic? That’s when you should have a conversation with your spouse on the best way to formulate your budget, including how much money to allocate for groceries, eating out, clothing, and other fun extras. Don’t forget to budget for padding your emergency fund, which is necessary for any workable budget. You should agree on how to deal with other issues that may pop up, like an unexpected car or home repair, credit card debt, or what to do if your parents ask for money. If you are objecting ask yourself why. Can you pay for the purchase in cash? Is it stopping you from reaching a goal? Do you just want to spend less money overall? Spend time explaining and listening to each other until you are able to resolve your differences. Some people are not planners, but once they realize that the budget will help them reach their goals they are more willing to work on a budget. You can work to get your reluctant spouse on board by illustrating how saving for the future will benefit them, as well. For example, you can explain how much value you put on his or her willingness to work on a budget. Alternately, be sure you know your partner’s financial goals and make working toward them a priority, as well. Once you’re on the same page, you may be surprised at how much more smoothly your finances work—and how much more easily you and your spouse can discuss all things related to money. Being on the same page and having accountability is key to managing your finances smoothly with a partner. As mentioned, it also helps for each partner to have money to spend on the things that they enjoy the most without needing to explain those purchases to the other. That may be considered splurge money, mad money or an allowance.
