Financial Differences Can Threaten Your Relationship

You can imagine the scenario: one partner is a big spender and the other a big spendthrift, and it’s a marriage doomed to arguments and conflict forever. Or is it? Some recent tips from Laura Rowley do at least provide some hope for couples who have major financial differences of opinion.

One suggestion is to seek the aid of a financial coach who can work with both partners to reach a compromise on your financial strategies. Since a lot of your financial approach to life can be a result of your childhood and family circumstances, it’s sometimes difficult to understand where your partner’s seemingly crazy ideas are coming from - a coach will help you both explain your thinking and work together to have a compatible outlook for future saving and spending.

Another helpful way to get partners on the same financial track is to use an effective tool to manage your money - for example, finding a good piece of budgeting and money tracking software that you can both use. Some of these tools, like Mvelopes.com, include a section for discretionary spending for each individual - for example, a clothing or computer game budget per month - which means that you can each buy something you like for yourself without feeling guilty, because it’s part of the agreed budget.