Scotia Investments

Financial Learning Centre

Scotia Investments Financial Learning Centre

Money Management Guide - Solving Money & Marriage Problems

Some people say money is the root of all evil; that may not be far from the truth when it comes to marriage problems. Money is a huge source of strain on many couples, from managing money to not making enough of it. If you and your spouse are dealing with a troubled marriage due to financial strain, don't be afraid to seek out marriage advice or professional marriage help.

Be proactive about your approach to money and marriage problems.

If you're being reactive to marriage problems, you're already fighting an uphill battle. An ounce of prevention is worth a pound of cure, so take a proactive approach to your finances to avoid marriage problems. If you want to avoid money and marriage problems, one of the first things you should do is sit down with your spouse and develop a budget. Make sure you both agree to the budget, and then stick to it. Don't run up a lot of unnecessary expenses that aren't't in the budget.

If you do run into an expense that isn't't in the budget, discuss it with your spouse before spending the money to avoid marriage problems. Good communication is the key to fixing practically any aspect of a troubled marriage, and this includes money problems.

Consider having both joint and individual bank accounts.

This approach to managing money and marriage problems requires trust on the part of both partners, but can save a lot of problems in the long run if you and your spouse don't see eye-to-eye about expenses. If you like to buy the occasional pair of shoes, or your spouse likes to buy the occasional cricket ticket, but these purchases drive you both crazy when you see them on the joint account, agree to maintain individual bank accounts for personal expenses.

The majority of your money should still be allocated to the joint checking account, but knowing you'you've got a little personal money can really help to take the strain off a relationship and prevent marriage problems. This is only a good approach if you and your spouse don't have trust issues; if either you or your spouse feels uncomfortable about having private bank accounts, then this causes more marriage issues than it resolves.

Don't be afraid to seek marriage help if you and your spouse have money issues.

Money issues are the cause of many marriage problems; you're not alone if you and your spouse are dealing with a troubled marriage due to financial strain. Don't be afraid to seek marriage help for your money issues. Sometimes, all you need is a third party to take a look at your issues and give you a little marriage advice.

Having an impartial outsider to help you work through your marriage problems gives you a little breathing space, and takes some of the pressure off you and your spouse for 'fixing' a troubled marriage. With expert guidance and marriage help, you can work through most marriage problems, including financial strain.