Wealth Building

11 Reasons To Confront Your Spouse About Money5 min read

Reading Time: 4 minutes We wed our spouse with the intention of "till death us do part." Money plays a significant role in surviving a marriage, and we should drive in the right way.

July 13, 2020 4 min read
Spouse Talk

11 Reasons To Confront Your Spouse About Money5 min read

Reading Time: 4 minutes

How many times have you heard the phrase, “Humans are social creatures” and wondered, then why can’t we communicate freely with everyone? It is indeed a common phenomenon among all, more or less. No matter how extrovert we are, there are always topics we like to skip, or not express what’s inside us.

Money is something many of us do not like to discuss. The significance of having an open conversation to your spouse is paramount, on the other hand.

  1. Couples Money: What Every Couple Should Know about Money and Relationships by Marlow Felton and Chris Felton
  2. Money Minded Families: How to Raise Financially Well Children by Stephanie W. Mackara

Why You Should Communicate Openly in Marriage

While communication is a key to almost any productive relationship, let us take some pointers on how it helps in marriage.

A Reality Check

Come on, don’t you sometimes wonder if your spouse shares the same principles that she did when you first met her! Through open communication, you can know how she thinks, how she processes everyday happenings. You will get to learn a lot of things about her just by initiating a conversation.

Avoid the Silent Treatment

The silent treatment is the worst, don’t you agree? We hate it when someone acts all fury inside but doesn’t talk to us about what’s wrong! Now, if you had just practiced open communication, this could be avoided.

Clarity

Open communication doesn’t only mean you get to know about the other person a lot. You can also talk about your own philosophies to your significant other. In the process of explaining yourself, you also realize a better deal about your own self.

Mental Lucidity

We often spend a great deal of our time decrypting what others actually meant. It takes a toll on our mental health, and also our time. Only if you had open communication, you could easily understand what your spouse said and what she meant.

No Money for Making Up

Be honest, don’t you already have a mental account where you save up money just to buy gifts for your spouse in case you say anything wrong? By establishing the practice of talking openly about every other matter, you can close this extra spending account.

How Talking About Money Is Good

Now that you know how open communication with your spouse is necessary, let us discuss why it is more essential to talk to your spouse about money.

The Marriage Vow

You are not marrying a person just physically, but marriage means marrying everything that comes with the person. In your marriage vow, there is a line explicitly, “For richer, for poorer.” Without talking about money, how would you know what your financial condition is!

Know When To Spend

Since marriage means you and your spouse share the financial burden, you can’t just go out and buy a supercar! One of the keys to maintaining any relationship is sacrificing when necessary. By talking about each other’s financial aspect regularly, you can spend wisely without burdening the whole family. It brings us to our next point.

Nothing Breaks An Already Broken Vow

It has been found that financial infidelity is among the top 3 reasons for divorce. You might have made the vow to be beside each other no matter what. Still, if you go broke without your spouse knowing beforehand, the trauma alone is enough to end the marriage. Believe it or not, when you go broke, all other aspects will start to fall apart.

Two Brains Are Better Than One

Financial Decisions are not easy to make. We all need suggestions, advice on how and what to spend if investing in a particular project will be a good idea. If you share these tensions, this indecisiveness with your partner, then chances are you will come out wiser than before.

Satisfaction

One reason for marriage is getting to have someone who you can trust with everything. This trust builds up automatically when you know the other person believes you the same. Money is one of the most sensitive topics to share, so when you start sharing about it with your spouse, they will know you trust them with everything.

Satisfaction achieved!

Two Books You Must Read

To understand the need and how you should go on to talk to your spouse about this “money talk,” we suggest you read the following books:

  1. Couples Money: What Every Couple Should Know about Money and Relationships by Marlow Felton and Chris Felton
  2. Money Minded Families: How to Raise Financially Well Children by Stephanie W. Mackara

Why These Books?

Couples Money: What Every Couple Should Know about Money and Relationships by Marlow Felton and Chris Felton

Good news if you hate reading books, that too instructive one. This book has been written by a couple, and they go on by sharing their own stories. They explain how they got into the same page as a couple about the money issue, and how it helped them to build a long-lasting healthy relationship.

Now, the Feltons are not merely any couple, both of them are financial experts. They have over twenty-nine years of experience in the field and specializes in giving financial advice to couples. The book has been constructed in the simplest way possible, the authors show very easy to follow steps and tactics that should help anyone in achieving financial harmony.

Money Minded Families: How to Raise Financially Well Children by Stephanie W. Mackara

This one is more of an objective oriented technical book. The book will teach you the ways to build a financial goal amidst your family, also give you some critical financial knowledge. The best thing about this book is that it has been published very recently, and so all of the contexts are more practical and recent. Another aspect of this book is, it gives you directions on how to align the kids onto your financial goal, alongside teaching the parents how to deal with personal finance. The book is so well and easily written that even your teenage children can understand it.

Conclusion

No matter what your financial standings are, it is better to share your money goal with your spouse. Open communication, trusting, and sharing with your life long partner can never hurt. Sharing the same financial view also works like a charm when it comes to success and gaining financial independence.

Understanding the importance is not enough, though, and you should advance in a systematic way to make your family understand your point of view on family money.

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