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Mixing Marriage And Money: When Opposite Financial Habits Attract
 
  When couples decide to take the step of eternal commitment, they are ready to embrace each other’s outstanding qualities and accept any less-than-ideal traits. However, before walking down the aisle, couples need to discuss how they will be spending their money as husband and wife.

As unromantic as it may sound, experts agree that money issues profoundly affect romantic relationships. Too often in relationships, money is an emotionally charged subject that causes sparks to fly. Honest communication and the below tips from the experts at Money Management International can keep your relationship from becoming a statistic.
  • Communicate about your current situation. Tell your spouse about any debt or credit problems that you may bring to the relationship. While this may be a hard thing to do, being honest now may prevent problems down the road.
  • Discuss financial priorities. Discuss how you’d like to spend your money in the future. Think out the large and necessary costs such as a new house and education savings for college. Also important to discuss is the cost of recurrent leisure activities such as weekend entertainment and hobbies, as well as vacations.
  • Discuss financial goals. Write out your individual short-term, mid-term and long-term financial goals. Then, share the goals with your partner and discuss their similarities and differences. Remember that if you and your partner are headed in different directions, neither one of you will get there.
  • Plan to share financial responsibility. Both partners in a relationship must be aware of the overall financial situation. Plan monthly meetings to discuss your finances and keep files regarding investments, accounts and insurance organized and accessible. Make all significant financial decisions together.
  • Understand your individual rights and responsibilities. State laws vary quite a bit regarding ownership of income and responsibility for debt. Learning about your individual privileges and liabilities will only help the relationship and could provide future financial security in a time of need.
Rudy Cavazos, director of corporate and media relations for CCCS states, “the most important money move you might make for your relationship is to embrace your differences. Understand that you cannot change feelings created by a lifetime of experience. Rather, try to cultivate the positive aspects of each of your styles. There is no one ‘right’ way to handle your finances. A marriage of your money styles may be the perfect solution.” 		 
 
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CCCS, A Division of Money Management International
Regional Headquarters – 615 Chevelle Court, Baton Rouge Louisana
Corporate Address - 9009 West Loop South, Seventh Floor, Houston, TX 77096
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