Fighting over Finances?

You’re all about frugality, while your spouse tends to be a spend-aholic. If different money habits have you and your significant other constantly fighting over the family finances, it’s time to tackle the problem before it causes a permanent rift in your relationship. Try out the following tips to get your finances—and your relationship—back on track.

Take your emotions out of the equation. This is much easier said than done, but you and your spouse are more likely to successfully work through a problem if you both stay calm. Refrain from starting a shouting match and never play the blame game.

Realize that there is no “right” way to handle your finances. The way people approach their money is often simply a reflection of their goals or values. Maybe you’re an aggressive saver because you dream of a stress-free retirement, while your spouse is more concerned with living in the moment and enjoying the here and now. Get at the root of your spending disagreements by sharing with each other what your values are and explaining why you spend (or save) the way you do.

Compromise. Work together to merge your values into a spending/saving goal you’ll both want to work hard to accomplish. Remind each other what you’re saving or spending for whenever one of you is on the verge of breaking back into old habits.

Seal the deal. Once you’ve created a spending/saving plan, put it in writing. This will make your goal seem more official and permanent and will help you take it seriously.

While it may be challenging to share the control of your cash, proactively taking charge of the situation can help you and your spouse live peacefully and stop the financial fights once and for all. Remember, the same methods you used to figure out other issues (such as how to tackle household chores, yard-work, etc.) can work for your finances, too!