How to have a happy marriage is always or should always be at the top of every marriage. A happy marriage is marriages that constantly work on becoming better as individuals in order to become better together. Money fights in marriage are one of the leading causes of divorce. Learn the 5 money mistakes that happy marriages try to avoid at all cost.
5 Money Mistakes Happy Marriages Avoid
Mistake # 1 – Lack of Honesty
Too often we are not always fully forthright with our significant others when it comes to the total picture of our financial situation. At times, we may elect to be somewhat elusive with our spouse in regards to issues such as our spending habits, or the amount of debt that we have accumulated. Being anything less than open and honest with each other when it comes to how you each are dealing with money, will produce nothing but disastrous results for your marriage.
Honesty is the best policy, especially when it comes to the handling of your money. Marriage and money are challenging areas in our lives by themselves, and when you combine the two the challenge becomes even greater.
Therefore, it’s imperative that we are fully open and that we discuss current debt loads and spending tendencies with each other. This is important so that once each of you lay all of your cards on the table; collectively you can come up with a game plan to move forward in your finances TOGETHER!
Mistake #2 – Lack of Communication
Communication is more than just simply speaking with each other. It involves listening just as much as it does talking.
Couples must communicate about their money in order to ensure that positive momentum is being made and that you are both pushing in the same direction. One of the primary vehicles in which couples should communicate about their finances is through a budget.
Budgets serve as road maps to allow each of you to have a clear view as to what money is coming in and how you plan to spend it. You wouldn’t plan to take a family road trip from New York to California without first mapping out the journey. By mapping out the journey you have a clear understanding of what roads you need to take in order to reach your ultimate destination.
Your budget is no different, in that it serves as the GPS for your financial journey from month to month. It allows you both to have a concrete plan. This will allow you to reach your desired destination in the area of your finances.
Consistent communication about your money is a sure fire way to achieve the financial independence that each of us is striving for.
Mistake #3 – Lack of Accountability
When couples lack accountability in their finances, it leaves room for nothing but catastrophic consequences to manifest themselves.
Accountability is not a means for one spouse to control the other. When used properly, being accountable helps each of you to focus and stay the course in your journey to gain and maintain control of your finances.
Set spending boundaries and then lovingly help each other to stay within the means that you’ve collectively set for yourselves.
Mistake #4- Lack of Vision
Every couple should have vision and goals. Goals are truly the lifeline to your relationship. Are you dreaming together? What are some things that you would like to accomplish together? We’ve interviewed so many couples that have accomplished debt freedom together and it’s liberating! Don’t just go through the routine of going to work, paying bills, running errands, and so forth without having any goals to reach forth. Sit down with your spouse today and make a list of some of your money goals and life goals that you would like to achieve. We created an entirely free resource to help you make S.M.A.R.T goals and crush them each and every time. Go here to check it out.
Mistake #5- Lack of Boundaries
Creating boundaries in marriage is so very important. When we first got married we created a bonified force between the two of us that cannot be penetrated unless we both are on one accord or the same page. Major decisions are not made unless they are made together.
Family members can sometimes force themselves on you and expect for you to never tell them no. We often receive questions from couples asking how do they tell their family members no. You have to keep before you that you are one with your spouse and unless you and your spouse agree then you should never move or make major decisions alone.
After we got married we let a family member borrow a large amount of money. It was almost our entire savings at the time. Imagine that, newly married, with no savings, and a lot of tension. We eventually received our money back and after that day we made the decision to never loan out money again. If we don’t have it to give away without ever receiving it back, then we don’t have it to lend.
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Putting It All Together
As the old saying goes, “teamwork makes the dream work”. Your spouse is your teammate! Teams that maintain open and honest communication and consistently remain accountable to each other, tend to win championships.
If you and your spouse want to win with your money, then diligently work to avoid these five mistakes at all costs. In doing so, you will be more than on your way to financial freedom.
