Welcome gang to Your Marriage Matters (YMM) podcast #002!
Conversation of the Week: What are your plans to handle money after you are married? This can definitely be a very difficult conversation. It is critical because it is one of the tough ones and it sets up so many important things down the road. Having a plan regarding your financial resources is key for having a successful marriage.
Questions such as who is going to handle the bill paying and will you have joint or separate checking accounts is a good place to start in order to have clear expectations. Whether you have a lot or a little, learning to manage money together will help in avoiding it becoming a problem. Exploring how you each grew up around money, what did and didn’t work, and your own philosophies regarding money is a great exercise in communication and can help in the decision making.
Make sure it isn’t just about the facts and figures, but also the attitudes and beliefs about money. Budget, budget, budget….extremely important in your plan for money matters. This creates an awareness that can help avoid stress and it creates a co-awareness that is ideal for being a successful couple.
If you are struggling with this conversation, be aware that each of you may come at this differently and that doesn’t mean that either of you is wrong. Realize that you have to be open and transparent and that in doing so it will make your marriage stronger. Because if you can handle this tough one, you will know that you have good communication skills and that you are developing some great conflict resolution skills! One thing we highly recommend is that no matter what system you use to handle money, passwords on those accounts should be not be private. Don’t create financial infidelity!
Listener Question of the Week? Money is very tight for us right now, so what is one piece of advice you would give couples on a limited budget?
Fun Question of the Week? What is the one item you like to splurge on?
Homework for the week - Answer and talk about these questions:
Talk with you next time,
Jim & Christie Jacobus