When it comes to marriage, money is often the most fought over topic. Depending on your personality and your spouse’s personality, there are a number of ways that you can avoid money conflict during marriage. Here are some of them.
To start with, you have to figure out what kind of spenders each of you are. If one of you is very frugal and the other is very spendy, then you are bound to have money troubles and resentment by the more frugal spouse. In some cases, you may have very common spending habits, which makes it easier to manage your money together.
Once you’ve determined how you both spend, it’s time to get some money advice on how to set up your finances in order to take advantage of your similarities and differences. If you both see eye to eye on your spending, then you can probably set up a joint account where all of your income is deposited into one account that is used to pay all of your bills and expenses.
However, if your spending patterns vary, it may make sense to have separate joint accounts that give each of you a set amount of money to spend each month. The bills can be handled by yet a third account, or you can divy them up between the two of you. In this way, separating your accounts gives you each control of your money and can help lower the resentment that often comes with money and marriage.
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