3 Tips for a Financially Happy Marriage

 When you get married, you combine your lives together. This means that your individual finances become both of your shared finances. No matter how much you love each other, you are going to argue. And many of those arguments will be over your family's finances. However, you can keep that from taking away from the health of your marriage by following these three tips.

Communicate Regularly

You need to discuss your finances on a regular basis. Not only should you both be aware of your current financial health, but you also need to know each other's history with money. If you're married, your finances are legally linked. This means that one person's credit score affects the other. Since 35% of your credit score depends on how promptly your debts are paid, you need to know each other's history with money. Be open about both your past and your present. You should talk about both the good and the bad, even if it is embarrassing to talk about. If you hide anything from your spouse, there's a chance your spouse could still find out.

Create a Budget Together

Everybody needs to have a budget. If you know how much money you have and where it is going every month, you can avoid worrying about it. However, that is often easier said than done. This is especially true with two people living two different lives. One of you might spend more than the other and it can cause resentment and frustration. This can eat away at your marriage, so you want to avoid it as much as possible.

Sit down and create a budget together, one that fits both of your needs and wants. Use any resources you need to and make sure that you include everything, including your health. Many people will skip important things due to cost. In fact, 59% of adults have skipped the dentist for that reason and it will impact their health. So use your communication skills and put together a budget that will give you and your spouse the freedom to do what needs to be done.

Set Goals Together

Another thing that needs to be a joint effort in a financially happy marriage is goal-setting. If you want to pay off debt or make a major purchase, you should discuss it together. Make sure that you both want it and find a way to pay for it. This will motivate you to work harder at your goal. Plus, with both of you focusing on it, it will be done faster.

One popular goal is buying a house. Since 32% of home buyers are first-timers, there is a good chance you'll be considering this at some point in your marriage. Buying a home is a massive financial investment that takes a long time to complete. If you want to do this, set the goal together. Come up with a plan and a timeframe for it so that you're both on the same page. This will decrease the amount of surprises and arguments that would result if you were not working together on it.

A financially happy marriage is much more likely to succeed than one where you are always fighting over money. Money causes stress and your marriage should be something that helps reduce your stress. It shouldn't increase it. By communicating with each other and working together on your budget and goals, you'll eliminate most of the major causes of financial conflict in marriage. While some arguments are inevitable, getting rid of these stressors will make them rarer and easier to handle.