Love can be grand until the arguments begin. And more often than not, it’s about money. What should you do if you and your mate simply can’t agree on how finances should be handled? Here’s how to keep the peace:
Hire a financial planner. A financial planner will assist you with setting and reaching financial goals. You’ll get to see your full financial picture and learn how to work past roadblocks that are preventing you from building wealth and achieving financial harmony.
Pay bills together. At least once a month, sit down with your spouse and take care of your finances. This will help build a sense of financial teamwork. It’s also a way for both of you to get a better picture of each other’s financial obligations.
Automate payments. This will help prevent arguments about paying bills late. You’ll stay on top of your bills and have one less thing to worry about.
Devise a budget. Put together a family budget and resolve to stick to it. This will help curb the temptation to overspend.
Work on communication. Learning how to communicate with one another will ease tension during discussions about money. A great resource for learning how to do this is First Comes Love, Then Comes Money: A Couple’s Guide to Financial Communication.
Monitor your progress. After you’ve set financial goals together, established a solid plan, and made the necessary changes, meet weekly to discuss your progress. You’ll be amazed to see how quickly working together will help you stop bickering and start building your nest egg.
For more information on this topic, come back to BlackEnterprise.com each week and look for a new Love & Money post.
Sheiresa Ngo is the consumer affairs editor at Black Enterprise.