One of the biggest causes of arguments in a relationship is when money is involved. Money brings out a different side to many people, and sometimes, it can completely ruin a relationship.
Different situations can cause different reactions, and money problems arise no matter what the scenario.
Not having enough money
This may be an obvious one. When couples don't have enough money, tensions are high. There are different situations when a problem might occur -- especially if one partner must give up something they enjoy. Whether it's shopping, canceling some type of membership or selling their stuff, it can easily make that person feel like they are sacrificing more than their partner.
It's important to make sure this is an equal action -- that one partner is not sacrificing everything while the other is still putting you both in debt. Both partners should examine their personal spending and find ways to save money in order to live with just the necessities. We all treat ourselves every once in a while, but you shouldn't go overboard.
Having too much money
You are probably thinking that there is no such thing as having too much money or that being that financially secure can't cause problems in a relationship. When you and your partner have a sufficient joint income, this usually means you will end up spending more. Whether it's getting new cars, moving into a nicer home, having children or upgrading your electronics, these things add up. Many couples find that they spend more than they earn.
It's completely normal to spend more once you've received a bonus or landed a higher paying job. The important thing to talk to your partner about sustaining a manageable growth when it comes to spending. Yes, you can spend more, but there should be a limit. You don't want to find yourselves in a financial hole.
Practicing control with your finances
With the rise of online shopping, spending has reached new heights. Retailers like Amazon make spending money effortless versus going into a store and using physical cash to pay for an item.
If you find yourself arguing with your partner about spending (or money in general), then it's important to tackle the issue early.
- Set up a budget. Sit down with your partner and create a budget while looking at both your salaries and spending habits. By writing down where all the money is going, it will make it much easier to identify where you should cut spending.
- Cut spending. Start looking over your budget and start making the cuts where you can without touching essentials like groceries, water, electricity and other things you truly need.
- Set up a savings. Open up a savings account to save money for the future. On top of saving, there should be an emergency fund of $1,000.
- Commit. You and your partner should both commit to watching your spending habits and being financially smart for the future.
Money is something we all need, there's no way around it. It should not be something that takes over your life and relationship. Remember what's important but also be fiscally responsible.