Financial planning can influence almost every aspect of your life, including your marriage. Couples from different backgrounds can have different views on money management. Even if couples do reach an agreement, a lack of financial literacy may also cause arguments, tension, and mistrust in a relationship.

Bad financial planning in a marriage, often accompanied by unpaid bills, over-spent credit cards, or the overwhelming student debt, is now almost the number one reason for marital discord. Sometimes financial disagreement even leads to divorce.

That is why couples often need to work out a new financial planning strategy after they get married. Here are some suggestions to help couples avoid financial conflicts.

Keep the transparency

The key point in maintaining financial harmony in a marriage is to remain honest and open to your spouse. Don’t hesitate to share the details of your debt, credit scores, account balances, and your spending habits with your partner. Make sure that there is good communication between you two.

Share the goals

Sharing financial goals with your partner is good for establishing a harmonious relationship. You can ask your spouse what achievement he or she wants to make in the future, and then try to figure out a plan that matches both your expectation and your partner’s envision. Write down the goals and the steps you need to take to reach these goals.

Take regular checkups

Financial planning is like a long term journey. Therefore, it is recommended that a financial meeting between the couple should be held every month or every week, if possible. This can help ensure that you two can stay on the same page in terms of your financial situation.

Ask for help

There are so many questions to be settled between couples when it comes to financial planning. For example, you may wonder whether you two should set up a joint checking account or just keep the accounts separate. Or, you may want to figure out a way to deal with the beneficiaries and your retirement plannings together with your partner. Sometimes solving these questions can be rather complicated and it requires professional knowledge. In that case, seeking help from a financial advisor can be a better way out.

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