In one of the more interesting blog postings I’ve seen in a while, Brooke from DollarFrugal.com writes about ten ways to use personal finance to strengthen your marriage. There were some very good thoughts included, with my personal favorites being the following:

1. Having open lines of communication. This one is probably the most obvious and the most essential. Money should not be a taboo subject. Both parties should have a say in how the money of the family is handled.

2. Setting a check and balance limit. I think this is a good thought, although my wife and I don’t do this as formally as is suggested. We are lucky in that both of us have similar attitudes about money and we trust each other not to make large unnecessary purchases. Of course anything large we discuss, but we don’t have a set limit.

3. Attacking finances as a team. In this point, it is noted that the spouse who manages most of the financial matters (paying bills and such) should maintain a list of account information for the other spouse should something ever happen. I totally agree, although I still haven’t done this to the extent I would like.

The rest of the list can be found here. Studies often show that financial issues are one of the leading causes of divorce in married couples, which is another reason to make sure that your financial house is in order.

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Posted in Basics Tips by BillyOceansEleven No Comments Yet