7 Ways to Stop Fighting Over Money

It’s understandable that money issues is one of the top reasons behind marital strain and divorce. After depending on your own finances and taking full control of your bank, it’s no wonder having to combine your money can damper the relationship.

There’s loads of things that can go wrong; financial infidelity, different spending and saving habits, and lean times can often stress you both out and liable to taking your frustration out on each other.

So what should you do when money woes and arguments take center stage in your relationship? Here’s some advice on how to prevent your negative feelings from becoming a bigger issue than it should be.

Have fair, money talk with your spouse
Promise each other not to fight about money, period. If you feel yourself getting angry about something your spouse has done or said, take a few minutes to calm down and engage in the conversation in a better mood. The last thing you need is going in there hot-headed already miffed about something they’ve done.

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Make it clear from the beginning
You should both be very clear from the beginning to what extent – and how – you’ll merge your finances as a couple. Will you keep them separate, will you only contribute to common expenses? What happens if one of you gets a raise? Talking about possible scenarios together will help reduce frustrations and confusion when these things actually occur.

Balance your chequebook together
Instead of one of your hoarding control over the account, set a monthly date to sit down and go over the books and pay bills together. That way you both know what to expect during the coming month, what you need to spend and where you need to save. This is also a great opportunity to talk about upcoming large purchases, car maintenance or family holidays.

Make the most of auto-banking
If you don’t have to think about it, you probably won’t argue about it. To stop or prevent continuous nagging from your partner, set up automated drafts and payments to help ensure you don’t miss an important payment, and also reduce squabbles at home.

Set a limit for each of you
When one of you is a save, and the other a spender, then going over-budge on a pair of shoes will surely ruffle some feathers. Before the madness occurs, set a spending limit for each of you. If you find that you may need to go over that limit, let your spouse know… It shows you respect their wishes and your decision together, and that you’re conscious of your budget.

SEE ALSO: Everything you need to know about setting up a Dubai business

Find a suitable solution
If something isn’t working, then fix it! If you’re having problems sharing a bank account, consider separating your finances to reduce the arguments.

Keep some degree of financial independence
This can mean keeping a small separate bank account used to finance gift purchases, or your personal savings for a rainy day.

At the end of the day, you are both a team and instead of fighting each other, you should work together to find a solution that works so neither of you fight over money again. Of course, even the world’s most perfect couple will quarrel over finances, but as long as you work towards a fair solution, you’ll only ever have calm discussions again.