Generally, kids know nothing about how to get money.
They are simply focused on how to get things they like, from pizza to toys and vacations, sometimes leading to arguments between partners over satisfying the child or saving money.
Therefore, if you want to handle money in your marriage correctly, you should try to be conscious of your kids' wants.
Rather than buying everything your kid desires instantly, you can discuss it with your partner to help you get an opinion based on an objective view of your finances and the importance of your child's wants.
Also, you can engage your kids in an educational lecture about wants and needs.
This will let them know how to prioritize their needs and the appropriate times when they may get their desires.
The lecture will also enable your kids to understand that they should not be sad if they can't get their wants satisfied.
To take the child's education further, you may also start making your child work for their money.
You can pay them to complete certain household chores or run errands for you.
If you have a business and they help in its running, you may also consider paying them for their services.
Be Open With Your Purchases
You may consider keeping mute about your purchases omissions that you shouldn't feel guilty for since you aren't lying consciously.
However, if you want to handle money in your marriage like a pro, it's better to be open about your purchases to enable the relationship to enjoy financial trust.
Being open with your finances is an indication that you are honest with your partner in the marriage.
With money being a sensitive issue in every relationship, an honest outlook on money is excellent.
Always remember that you and your partner are a team, so if you have thoughts of hiding your purchases from them, you should erase them.
You are now "one," and since you shouldn't lie to yourself, you should avoid lying to your partner, even if it's by omission.
If you make a wrong purchase, rather than hiding it from them because you fear them frowning at you, remember that you would also want to hear about their bad purchases.
So, schedule a time to talk about your bad purchases so you may gain their insight on what went wrong.
Identify Your Different Financial Personalities
Our personalities shape everything from our reactions to other people, choice of jobs, to financial habits.
Thus, it's essential to identify your different personalities concerning money if you want to handle money in your marriage correctly.
By identifying personalities, you will discover if you and your partner belong to either the saver, investor, debtor, big spender, or shopper categories.
Once you can identify your respective category, both of you will better understand your financial habits.
You will also start to motivate each other toward escaping the drawbacks of each type.
For example, a debtor that goes into debt without thinking much about it will need the motivation to become conscious of money.
Similarly, a saver who prefers not to spend any money will also need some push to become comfortable spending some money for comfort in the marriage.
Operate a Joint Account
If you believe that a joint account is doomed to fail because it allows you to be in each other's personal financial space, you may be wrong.
Marriage is all about being together, and if you want to handle money in your marriage perfectly, it will be a great idea to have a joint account.
Operating a joint account allows you to constantly be on the same page with your partner.
Since you can see each other's income and purchases, it becomes easy to save towards trips, investments, and trust funds since you can see your partner is saving with you.
Similarly, a joint account can help you qualify for bank rewards faster than using a separate account.
This is because the income and frequency of purchases from two people will go farther in bonus than a single person.
Interestingly, there's no added stress in opening a joint account.
It's almost the same process as opening a separate account, albeit with more details.
Instead of opening a joint account from scratch, you may even upgrade an existing single account to a joint account.
Be Cool With Salary Disparity
Income gaps between partners are a common sight but can end up causing a mess in the marriage if not properly handled.
Hence, if you want to reasonably handle money in your marriage, it's a great idea to be cool with your salary difference.
One way of being cool about it is to have a conversation about it.
Rather than avoiding the conversation because of its discomfort, it's better to have it and reassure each other that both partners will be appreciated and loved regardless of the salary disparity.
You can also talk about a convenient bill splitting system in marriage.
You may use an equal splitting system where you divide finances equally despite the gap.
On the flip side, you may use a proportional system where you contribute based on how much you earn.
And be sure to have further talks about a possible change in finances in the future.
If a partner decides to go to school, the other partner automatically becomes the breadwinner.
Planning for such a scenario will help the marriage easily survive it.
Conclusion
Killing marriage issues even before they come up is crucial if you want a long and fulfilled marriage.
Money can be one of those issues, and it's vital that you handle money in your marriage so peace and love can reign.
To handle marital finances properly, you should be conscious of your kids' wants, be open with your purchases, identify your different financial personalities, operate a joint account, and be cool with salary disparity.
I'm a lawyer and content writer committed to helping people learn how to live mentally healthy lives. My pieces focus on identifying the issues and highlighting their solutions. It's my belief that every person can live a mentally healthy life.
Many of us are often faced with struggles and hardships and finding help can be difficult. However, at Overcomers Counseling, we are here to help you in your time of need. We are passionate about people and we believe that ANYONE can be an overcomer if they are willing to pursue it. Don't let another day go by without getting the help you desire.
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