The 10 Problems Couples have With Money
The 10 Problems Couples have with Money.
Can Money issues ruin a relationship? One of the main reasons people end up in divorce court is money issues. Money is a very emotional part of life due to what it means for anyone or family. Money, no matter what anyone says, can buy some measure of happiness and security. After all, if you have enough money to meet your basic needs, you are better off than many in the world.
1. Differing Money Personalities
When two people come together in a relationship, it doesn’t mean they end up with the same money personalities. Some people are spenders, and other people are savers. Some people never even give money a thought and like to live minimally while others love to shop and find bargains. Everyone is different, and it’s essential to know how you’re different from making allowances for others’ needs.
2. The Need for Control
Some of us have more controlling personalities than others. We like to oversee our financial futures and cannot even think of giving that over to someone else. If you’re in a relationship where both people want to control the finances but have different ideas of how that looks, problems can ensue.
3. Dissimilar Communication Styles
Sometimes, it just comes down to how you communicate about money. If it makes you emotional, you may seem defensive, and when one person is defensive, it can make the other person also get defensive. Thus, a conflict arises and continues due to misunderstandings.
4. Varied Money Histories
How your parents were about money makes a significant impact on what you think of money. If money was a problem growing up between your parents, it could throw off your relationship with money in a way that causes problems in your relationship. Are you repeating what your parents did?
5. Secretive About Money & Spending
If one party is often secretive and even lies about how and where they spent money, it can make it hard to stick to a budget, which can end up causing problems eventually. If you or your spouse is being secretive about money, this must be dealt with right away.
6. Different Money Values
One person’s value is not always another’s. Each person values money differently. One person may love fine jewelry while the other likes to save money and spend on experiences.
7. Conflicting Spending Habits
You like to spend money on eating out, and he likes to eat at home, mostly because you’re cooking, and the two of you don’t see eye to eye about how to spend that money. It requires a discussion about household responsibilities and how they feel to find a middle ground where you both compromise.
8. Incompatible Saving Habits
If one of you is a good saver and the other can’t stick to the budget, this can mess up the savings plans and cause conflicts in the relationship. In this case, the saver needs to understand they can’t be miserly, but the spender needs to be more realistic and careful.
9. Income Earning Disparities
If one person earns substantially more than the other, it can not get along, moneywise. One of the best solutions for this situation, if it’s realistic in your circumstance, is to let each person pay for bills based on the percentage of total income they earn. Each person must have some money allotted for their own spending needs, even if they earn far less.
10. Conflicting Ideas About What’s Important to Spend Money On
One person likes to decorate the house with new things, the other likes buying used. One likes to recycle, and the other doesn’t. One likes to buy experiences, and the other would prefer to spend on their home. These problems can arise in any relationship resulting in fights over money.
To avoid these types of problems, you might want to talk to a financial planner about the issues. There are also marriage counselors and marriage coaches who can help you deal with these issues in a manner that will make things better for both of you.
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