Talking About Money Matters

My hubby lost his job over a year ago. After the shock wore off, we sat down and discussed things we could cut down on or completely cut out. We did not argue although we talk to each other openly about everything anyway, no matter the subject. We have always made communication our number one goal. That is the key to a happy marriage. We have been together since high school and just celebrated our 31st anniversary. We have had money problems on and off in our marriage, and if anything, it brought us even closer together. "What don't kill you only makes you stronger."

this is true, my husband and i were arguing about money, then decided to work on it together - we now do focus groups in the evenings, mystery shopping and creative things like that (that also seem like dates!) to make some extra money!

My guess is, if you and your spouse are having a hard time talking about money, then you are probably not talking about other things either. Communication is the key in having a wonderful, fruitful marriage. If it is difficult, no matter what the topic, counseling may need to be considered. Although it may be costly (financially), it is not as expensive, or detrimental as divorce!

Talking about money is so important! I really like the idea of talking to a financial planner so that both people are on the same page. Otherwise too many things can go wrong. Personally with two salaries, I really like the idea of the percentage plan for expenses. The person making 70% of the income pays 70% of the bill. Both people having similar goals also helps to make sticking to a plan alot easier. Without common goals there is little incentive to save.

It is important for everyone to know exactly the state of their finances. It should not be the "elephant in the room" that no one wants to talk about. You should be an active participant in your financial situation. It is especially important for couples to know and understand each other's financial personality so they can learn to work towards common financial goals. It is ok to talk to a 3rd party and it can often be beneficial as a 3rd party will see things that you are too close to see for yourself.

It is very important to discuss money as a couple. If you are married by law each person in the marrage is responsible for each other bills. When you decide to get married you should be aware of how the person take care of his or her money. That will give you a hint of what your problems in the future may be.

I think every couple should have a third party financial advisor. My husband has a degree in finance, but we still decided to get a financial advisor, it's great because he and my husband can talk "finance" talk, but then he can also explain to me what we are doing. It really takes the pressure off of just one of us to manage things. We really like feeling that we have someone to go to with questions about financial issues and that our money is being invested wisely.

I agree, it is very important to discuss money with your spouse. We have been trying especially now to keep it simple, and we really don't notice it so much, it is kind of nice really, cook at home more, cozy, and home movie night, instead of going out, game nights at home with the kids instead of taking them out to entertain them, really so much more entertaining for all of us and so much better for our bank account.

We have been together for 34 years, twenty of them married, and we have always discussed our financial matters and how to handle our money. Everything has always been in joint accounts and both of us know exactly what we have in bills, savings and checking. If you do not keep each other informed and something happens to one or the other spouse, then someone may be left in the dark as to where they are financially or how to take care of themselves. As far as talking to a third party, we would not because we have always been very money wise and have taught ourselves that you have to depend on ourselves. So we have made sure that we have money in the bank and for our future in case something happens. We grew up paycheck to paycheck and now that we can afford things we found that we really do not need those things.

I have been married for 10 years. Discussing money is of the utmost importance for a married couple. If you can't be honest about money with each other, there is no trust.

We wouldn't be able to talk to a 3rd party. I dont think my husband would go for it. But I do agree with you aguafria, I bet it is a top reason for divorce, that wouldn't shock me at all. I think it's sad but true :(

Money is probably the close to the # 1 reason why people divorce. You would be crazy NOT to talk about money with your spouse. If we needed to talk to a 3rd party, we both would have no problem with that.

I think it is very important...one of the biggest keys to a happy marriage! You need that open communication to understand what you both want and you need to be sure you are on the same page. You also need to make sure you both know the workings of your finances in case something should ever happen to either of you. You need to be working together to find ways to get yourselves out of debt. If I felt it was necessary I would consider a consult with a financial advisor.

yes

I think it is very important to discuss finances with your spouse. Just last week my husband came to me and said; 'We need to find ways to cut some sorners on spending." My response was that there really isn't anything else that I can cut back on. I am in charge of the joint account checking and he has his own checking account. I send off all of the bills, get the groceries but I never spend on myself or just blow money. I quit smoking over a year & a half ago. So, it's not me it's him that needs to stop with his $100 with drawals, and always making trips to Walmart or Tractor Supply. He was sorry he brought it up once he realized that he was the only one wasting money.