Disagreements are inseparable part of every relation independently on how happy you are with your spouse. You may have different solutions for household chores, have your own thoughts about children’s education, or simply can’t agree where you want to live. However, these arguments are simple misunderstandings, when you begin to deal with your financial matters.
Family money management gets tricky, and you will not find some unique strategy how to manage budget together. If you have only one member of your family working, in most cases this spouse solves all financial matters. But when you are both working, you definitely need to have a plan according your financial expenses and goals to prevent your relations from destruction due to money problems.
Determine Your Situation
For most couples it is really difficult to discuss money matters. People can talk about everything, but when the conversation turns to finance, they become ashamed or afraid, and try to avoid it. However, in spite of feeling uncomfortable, you still need to discuss your financial situation and control it, otherwise this situation will control you.
Some people believe that they can easily use same day loans online in case of any emergency, but this opportunity doesn’t free you from a need of financial management. It still makes you deal with money not to become financially dependent.
That is why you need to make financial meetings calculating your mutual income and summing up all your expenses. For the beginning it is better to list all debts you have, including a mortgage, car loans, possible student debts, etc. Then you should think about other expenses done on regular basis, such as utility bills, transportation, insurance, groceries. In such way you can make a budget and somehow allocate money.
On this stage you should determine what expenses you are going to include in your mutual budget. Some people decide to sum up all money and pay all the bills together, while the others choose to leave personal money, paying together jus for basic necessities.
Make Realistic Contributions
When paying bills with your spouse, you can face a problem of having different level of income. This is where all problems start. Your income can differ in two times, so it will be unfair to contribute to the budget the same amount of money.
For such situation there is a possible solution. You can make a fair deal and cover that part of expenses that corresponds to the percent of the total income that you earn. In such way both spouses will have more realistic financial possibilities, and can use personal money for building their own saving accounts.
When you have decided how much money each of you should contribute to mutual budget, you may think about having a single account for expenses, or cover definite bills separately. You should not bother about the right way, because there is no unique solution. You can also learn financial recommendations for couples to make things easier.
Having one account is a good way to make your partner trust you. Also this means that you have discussed all expenses and expect that you both will spend money only for necessary things. While paying bills from your own account can be easier, because you know your own part and can control all payments. However, both ways demand you to be responsible and honest with your spouse to prevent any possible financial misunderstanding and further problems.