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Marriage and Finance: Planning for the Unexpected

In these tough economic times, there may be no greater stress than finance in marriage. Whether things are going well or even if you are struggling, your marriage can stand up to financial challenges with a little creative thinking. So take action and start your new beginning today.

Perhaps the most unnerving aspect of finance in marriage is its unpredictability. You might have gone to great lengths with your spouse to plan out a household budget and are very good at adhering to it. You might even plan so well that you can afford a vacation from time to time. But there are some things that you may not have predicted, and those unexpected expenses can often cause marriage problems. One solution? Identify potential problems and discuss these things with your spouse. Here are three to get you started.

  • Accidents and medical problems: Nothing can build up bills faster than hospitalization or medical treatment. Discuss your insurance (or financial readiness if you don’t have insurance) with your spouse and make sure you are taking full advantage of the precautions built into your coverage. You might even wind up changing or modifying your plan altogether. This step can help avoid some finance-related marriage issues.
  • Getting laid off or fired: Sometimes it can come out of nowhere, and sometimes you have time to plan. Either way, losing a job is a big financial blow and can spawn a big-time marriage crisis. Be proactive. Talk to your spouse about what kind of unemployment benefits your company and the state provide so you are able to formulate an emergency budget using those figures.
  • Pregnancy: This blessed event can be a big surprise when you least expect it. Though children are a wonderful addition to a family, they also present added expenses to the budget. Help your marriage. Have a conversation with your spouse about what you might do if the stork arrives without calling first.

Of course, these are but three examples. Every couple has different needs, but keeping your plans strong in weak financial times is a great way to save your marriage from potential disaster. If you feel like the issues are just too big for you to handle on your own, consider getting outside help, such as a marriage seminar. It could go a long way to putting your marriage back on the right track.