Commitment dating dilemma
If one partner has more debt than the other, or worse yet one partner is debt free, the sparks can start to fly when discussions about income, spending, and debt servicing come up.
Personality Personality can play a big role in discussions about money.
It is a great way to double your income without doubling your expenses.
Preparing them for a financially responsible future reduces the odds of them dipping into your wallet once they grow up and knocking your savings plan off track.
Although there may be some rationale behind this idea, it is still important both partners cooperate as a team. Food, clothing, shelter, little league, ballet, designer jeans, prom gowns, pickup trucks, college are all part of a long list of child-related expenses. SEE: Kids Or Cash: The Modern Marriage Dilemma Extended Family Her mom wants a vacation in Vegas. The joys of family often extend right into your wallet.
Not including the expenses related to children who have already left the nest either. Solutions Communication is the key to most marital financial challenges.
Even if both partners are debt free, the age-old conflict between spenders and savers can play out in multiple ways.
It is important to know what your money personality is, as well as your partners, and discuss openly about these differences openly.
Power Play Power play often occur when situations like; he work and she doesn't, or he's unemployed and she's working, or one spouse earns more than the other, or one family has money and the other doesn't. Now one spouse is writing a check and the other wants to know why that money wasn't used to address needs right here at home or fund a vacation for "us." This works the other way too. Her mom will fund a new car since the one she's driving is a Honda, not a Lexus.