If you are struggling with money and need help with money management, then it’s likely that these financial issues could be causing relationship stress. Dealing with money problems (or, most likely, not dealing with them) is a major factor leading to divorce in this country. Learn how to speak with your partner on a regular basis to set up a working family budget and keep your relationship as strong as ever!
It’s important to schedule regular meetings, at least once a month, to discuss the current financial state of your family. It’s best to do this around or before payday so you can allocate your incoming finances. Learn to make this meeting as stress free as possible by communicating openly and honestly about each of your expenditures. If one or both of you didn’t follow the monthly budget or went over on his/her spending, then accept responsibility. Don’t criticize or blame, just create action steps to make sure it doesn’t happen again.
It’s a great idea to allot each of you a certain amount each month to spend on whatever you choose without having to seek permission or be held accountable to your partner. When your budget is tight, this only needs to be a few dollars. This creates a certain level of spending freedom that makes sticking to the budget that much easier.
When planning for your future or for retirement, it’s important to set S.M.A.R.T. financial goals, see my previous blog . This ensures that you, as a family unit, are all on the same page and working toward the same financial goals. This is where managing your money and budgeting your finances can actually work to strengthen your relationship. During each weekly or monthly budget committee meeting (depending on where you are in the process), you can track your progress toward achieving your goals . Through team work and open communication, you’ll see just how quickly your can pay off your debt or save for retirement and your relationship will grow stronger as you achieve your goals together!
There’s no one way to manage your money and you need to find the way that works best for you and your family. As a Certified Debt-Free Coach and money savings expert, it’s my job to help you manage your finances in a way that drives results. There’s no better time to learn how to manage your money and start building wealth than now! If you need help, please feel free to call.