Monday, March 30, 2009

Don’t Let Financial Challenges Stress Your Marriage


Even in the best of times, developing and sustaining a successful marriage is hard work. One of the top stressors in a marriage is financial hardship. Whether you are newlyweds and have not established a financial plan or if you’ve just finished celebrating your fiftieth wedding anniversary and have not reevaluated your plan lately, it’s never too early or too late to create or adjust your financial plan.

No matter how long you have been married, couples can benefit from scheduling some time to sit and discuss the following topics:

Set Family Goals
Before you can create a plan, you must determine what you want to achieve. Many couples make assumptions about their spouse’s financial expectations. This is an opportunity to make sure that you are on the same page.

Make Decisions on How to Spend
Make sure you understand what type of spenders you are. Are you conservative or a spend thrift?

Establish a Spending Plan
Make a list of your fixed and flexible expenses and discuss how you will address them.

Plan for the Immediate and Distant future
Make a plan for how you will handle unforeseen expenses. Decide when and how you want to retire.

Communication, creating and implementing a written plan, will minimize your stress and help you meet the inevitable challenges that life will bring with confidence.

Money and Marriage: A Spending Plan


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