Plan together.
Once you have a plan in place, you also need to make sure you’re on the same page about how to execute it. One or the other of you may be better with math or more enthusiastic budgeting. That’s fine. But both spouses need to be involved in making decisions about the budget.
How much money will you spend on rent and how much are you going to save for a house? What luxury items are you going to eliminate to get out of debt faster? When are you going to make big purchases and what will those things look like? Both spouses need to agree on financial strategies before buying things and putting a budget plan in place. If you don’t have agreement at the beginning, you’re going to wind up with bitterness or resentment at the end.
Don’t hide anything.
Secrets can be one of the biggest threats to a marriage. It’s tempting to hide things from each other, but secrets build division and mistrust. You need to be as open and honest about financial matters as you would be about sexual issues, family drama or other serious things.
It’s tempting to hide things from each other, but secrets build division and mistrust. tweet this!Transparency means owning up to financial mistakes, blown budgets and bad decisions. And don’t even think about opening a bank account or credit card or making an investment without your spouse’s knowledge. Everything you do, you do together.
There’s a lot more that could be said about money and marriage. If this is an area of your marriage where you need help, seek some more in-depth resources and support. And even if you think that you have these things under control as a couple, it’s a good idea to come back to these principles from time to time and make sure that you’re still building in the best way possible.
It’s amazing what you and your spouse can accomplish when you work together.