Nobody likes talking about money, but in a marriage, this is essential. With regular and honest communication, you and Hubby will feel more secure about your family’s financial future and be able to make better money decisions together.
Willy Ho, founder and lead counsellor at The Counselling Paradigm, says that couples must communicate closely with each other when it comes to prioritising investments and expenses, and setting a budget based on their income. If you and your spouse are in debt, you should also come to an agreement about how to realistically pay it off so as to enjoy financial freedom faster.
When it comes to money, communication is key.
If you and Hubby have different money values, close communication will also help you understand the deeper significance of these values to each other.
Says Jessica Lamb, a psychotherapist and mediator at Relationship Matters: “Making the effort to discuss these differences and really listening to your partner is the best way to move forward when it comes to resolving your money issues. But the way you raise these issues is crucial to how successful you’ll be in discussing them.
“If you start the discussion with a statement like, ‘You’re so irresponsible with money!’ for example, it’s hard for your partner to listen as he will immediately feel criticised and judged, and he may get defensive.”
This is because money tends to be what Jessica calls a surface issue. Underlying our financial beliefs and habit are actually deeper issues, to do with self-esteem and identity, security and stability, care and support, and control. These are really the topics that couples are trying to pinpoint when they discuss money.
According to our experts, these are the five money issues couples argue about the most. Here are a few tips to prevent them from putting a strain on your relationship: