Household Finances and Stress
Finance in marriage is one of the most critical components to success, just as it is in a business. The ability to manage the household finances properly can make married life less stressful.
Couples who tackle discussions and agreements about finances up front often have more savings and less stress than those who don’t. It is wise to have a financial plan for the future and talk openly and frequently about finances after marriage.
Unfortunately, financial mismanagement causes the end of many marriages. According to a study by SunTrust Bank, finances are the number one cause of stress in a relationship. Many couples fight about money and spending habits, especially during challenging economic times. And it can be even more difficult when the spouses have different financial "personalities," as in one is more of a spender and the other is more of a saver.
Often couples hide purchases from each other or withdraw money without the spouse’s consent. In a marriage, both the husband and the wife should be allowed to make decisions regarding household finances, but they need to be open about their financial habits.
Problems might also arise when a man is working and his wife stays home taking care of the house and the children. In such cases, many men think their wives do not have the right to make financial decisions because they do not bring home any income. This results in financial dependence.
These situations can create unnecessary stress on their household finances, which directly affects a marriage relationship. In fact, financial stress is one of the main factors in many divorces.
So, what are some things that can be done to relieve the stress of household finances and therefore help avoid the steps towards divorce or separation?
Tips for Tackling Financial Stress
One of the most important things that a couple can do is openly share financial information. Each spouse should be financially accountable to the other. Couples should also create a financial goal and agree on basic rules when it comes to spending money without having to consult each other. And above all else, the lines of communication should remain open.
If you are having serious financial stress, don't let that get in the way of saving your marriage. Your marriage relationship should be one of your top priorities, and there is help available if you need it
Contact us today to learn how A New Beginning workshop can help to ease the stress and restore the love in your marriage.