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6 Money Issues That Can Wreck a Relationship

Marriage is not all about romance and love. Finances also take a big part in what makes a union work. If you and your spouse are not careful, it can also be what unravels your marriage. Here are six money mistakes that can leave a relationship in ruins.

1.آ  Attempting to Change Your Spouseق€™s Habits

If you and your spouse have different spending habits, philosophies on money, or savings goals, then this can cause a wedge in your relationship. However, you must realize that everyone has unique attitudes and habits about money that influence their purchases and determines how much he or she saves and how much they spend. If one spouse spends freely, and one is frugal, then it is only natural that there is some tension. That being said, attempting to change your spouseق€™s spending habits can cause your marriage harm. Instead, try to get to the reason as to why your partner feels the need to handle the money the way he or she does. Listen and donق€™t judge. After that create a solid plan, that will aid both of you in achieving your financial goals so that everyone feels comfortable about the householdق€™s spending and saving strategies.

2.آ  Joining Accounts Before You Are Both Ready

Many married couples have a hard time getting used to the idea of sharing everything, including an account. If you are sure that both of you are comfortable with sharing expenses and having access to how each person spends and saves then a joint account can work out perfectly. Additionally, if you are both comfortable with determining the share that each person will receive out of the joint account, then there likewise wonق€™t be a conflict. However, if not then separate accounts may work better for your relationship. Moreover, you may also want to consider having both a joint and separate account. Even if you do split the bills in half, you can also have money held separately so that you can both maintain your own individual financial goals.

3.آ  Keeping Money Secret From Your Partner

Keeping any secret from your spouse can only lead to trouble, especially when it comes to money. For instance, attempting to hide your spending habits, taking money from your joint account, or making major purchases without informing your significant other are all things that can lead to marital trouble. Instead, try to be as open as possible about your spending habits. Attempt to make all your larger purchases jointly so that no one is hiding anything from each other. On top of this, it is always best to disclose any debts that you have before you tie the knot with someone. The bottom line is that financial secrets can ruin a marriage.

4.آ  Investing in Things Only

Although material things can sometimes enhance your life, focusing all your energy on the things your buying or trying to compete with others in terms of material goods will only lessen the quality of your marriage. If you spend too much of your energy and time attempting to look wealthy, itق€™s easy to diminish the energy you have to maintain a sound relationship.

5.آ  Avoiding Talking About Money

Although it may not be fun, talking about money needs to happen on a regular basis if you want your relationship to thrive. Not doing so will likely cause a financial disaster and may jeopardize your union. However, it is quite common for couples to avoid the money talk until after their marriage. Instead of making this mistake, talk about potential and current money issues such as outstanding debt, the financial impact of children, and credit issues so that both of you can be on the same page when it comes to finances.

6.آ  Having a Partner That Controls Everything

It is perfectly okay for one person to manage all of the finances in a relationship. That being said, it is important that both partners be aware and involved in significant financial decisions. You should both sit down and create a financial plan together, even if it is only one person who executes it. This will ensure that there are no surprises when it comes to your finances. The number one way to ensure that money does not get in the way of your relationship is to be on the same team.