(The following is a guest post)
Managing your finances can be a difficult enough task, but when there are two of you involved it can lead to disputes. It is common knowledge that one of the most prominent difficulties in a marriage stems from money worries. A recent article debates that more marriages are ending in divorce due to constant disagreements about money. Let’s take a look at some of the reasons for this and how you can avoid money arguments with your partner.
If one person in a marriage has a habit of overspending or has accumulated debt, this can affect both of your financial situations. Keeping up with the latest technology and fashions is commonplace and can fritter away most of your disposable income. Recent research has stated that women gravitate more towards keeping savings whereas men do not see this as a priority. However, there are exceptions especially due to the pressure on women in the modern world to keep up with their peers with the latest trends.
Research also shows that men are more likely to hide financial worries from their partner due to the pride associated with being the breadwinner. Nearly half of all people have lied about finances to a partner; therefore, it is more commonplace than you may have first thought.
Failing to Discuss Money
The same survey has shown that, whilst only 16% of arguments started because of children and 13% began over chores, a massive 27% of disagreements started over money. Of course, this is only one survey, but it does give an indication of how much influence money has on couples. If couples are able to discuss their children with very few arguments, why is money such a delicate subject? Many are embarrassed about their own finances.
A 2010 survey showed that less than half of couples discussed money before getting married. This could also be a major factor for arguments as many couples will not be aware that their partner was in debt before they were betrothed.
Ways to Combat Money Troubles
If money and debts are coming between you and your partner, there are ways to deal with it. The most important thing is to communicate with each other, as keeping debt to yourself is never a good way to solve your problems. Many couples keep their spending habits to themselves and it is often a shock to discover just how much debt has been accumulated as a result.
By keeping a regular diary of your incomings and outgoings, this can be swiftly avoided. Taking time once a week to go over what you have spent and to discuss how you can both reduce your spending can help.
The research appears to support the theory that money worries are the number one cause of marital difficulties. Marriages are tough enough without mounting debts; therefore, it is advisable to deal with money problems head on and together. It may actually save your marriage.
This guest article was written on behalf of www.IVA-Expert.co.uk, by Francesca, a writer with an interest in personal finance and money management.