Finances build the foundation of a “great” marriage

Finances build the foundation of a “great” marriage

Money matters—it’s one of the biggest triggers for couples, and no wonder. Financial stability is the foundation onto which you will build a lasting partnership. If you each have different ideas about how to develop that foundation, it can undermine the whole structure of your lives together.

Money is the single biggest issue about which couples fight, and one of the prime reasons for divorcing. When to save, how much to save, strategies for investing, what insurance to purchase, and on. From the start of your lives together, on to securing the future of any children you might have, and then though your final years together, financial planning impacts every aspect of your lives.

Learning how to plan your finances together is a key skill for your growth, and your future success, as a couple. It’s also a prime indicator of the health of your partnership.

This was the conclusion of a 2018 study* by Ramsey Solutions, a financial education company. More than 1,000 U.S. adults were asked about attitudes toward personal finance. Questions included descriptions of marital health and the subject of money.

In this study, 87% of the individual respondents who described their marriage as “great” also reported they work with their spouse to set long- term financial goals. Among respondents who described their marriage as just “okay,” or “in crisis,” only 41% reported working with their partner in this way.

Lack of unity about money is a dream-crushing situation. Among respondents who said their marriage was “okay” or “in crisis,” only 45% reported discussing their money dreams together. But 94% of respondents with a “great” marriage also said they discuss their money dreams together.

Do you ‘money dream’ together?
What are your money dreams? Do you and your partner have the same ones, or is your disparate approach to money causing deep rifts in your lives?

The Ramsey study found that couples with a “great” marriage are almost twice as likely to discuss their finances together on daily or weekly basis, compared to those who say their marriage is “okay” or “in crisis.”

If there is a disconnect in the way the two of you approach financial planning, it’s important to get this aired out, together. Who is the spender, and who prefers to save? Who is more risk tolerant when it comes to investment planning? Do you have the same long-term investment goals?

Start the conversation by developing a monthly budget together, then make time to talk about it, and other financial issues, regularly. Alternatively, you can both meet with your Financial advisor and have them start these conversations. These conversations are very personal and it might be helpful to have a 3rd party mediate the conversation between the two of you and be able to provide constructive solutions that meet both of your objectives. If you don’t have a Financial Advisor that can do this, give us a call.

38 thoughts on “Finances build the foundation of a “great” marriage

  1. netflix says:

    Usually swapping in butter can make a slightly denser mouthfeel for cakes eaten at room temperature, but with all the mix-ins I bet this cake could handle it. Romola Teddie Kolosick

  2. episodes says:

    I have learn several excellent stuff here. Certainly price bookmarking for revisiting. I wonder how a lot effort you place to make such a great informative site. Marris Nev Nagle

  3. diziler says:

    Hey there. I found your site by way of Google at the same time as searching for a comparable subject, your site got here up. It seems great. I have bookmarked it in my google bookmarks to come back then. Amalita Jamey Savadove

  4. torrent says:

    Sed lacinia, urna non tincidunt mattis, tortor neque adipiscing diam, a cursus ipsum ante quis turpis. Nulla facilisi. Ut fringilla. Suspendisse potenti. Nunc feugiat mi a tellus consequat imperdiet. Vestibulum sapien. Proin quam. Etiam ultrices. Cairistiona Garek Vandyke

  5. bluray says:

    After research study a few of the post on your site currently, and I truly like your method of blogging. I bookmarked it to my bookmark web site list as well as will certainly be examining back quickly. Pls look into my web site too and also let me understand what you assume. Malissa Blake Adkins

  6. erotik says:

    Hi, I think your website might be having browser compatibility issues. When I look at your website in Chrome, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, awesome blog! Yetty Hersh Cooperman

  7. yabanci says:

    i am a care worker going house to house helping the people with tasks, working for an agency. But now l would like to start up on my own, helping with house work, laundry,shopping trips, travel to appointments, and a companion. But l dont know where to start, has anyone got any ideas? Where would l start and how do l go about it? Martha Olivier Iives

  8. erotik says:

    I collectively with my pals happened to be reading through the best advice from your net blog although all of a sudden developed a terrible feeling I had not expressed respect for the blog owner for all those strategies. These young males are already for that reason joyful to understand all of them and have now sincerely been loving them. We appreciate you genuinely really thoughtful then for deciding on these sorts of decent topic matter a lot of people are definitely eager to find out. Our honest regret for not expressing appreciation to you sooner. Camilla Shae Barny

  9. turkce says:

    In my view anon, the customs application that are being filed by HUL are for seizure of counterfeit goods rather than stopping import of parallel goods which the trademark act allows. Toby Goddard Utham

  10. erotik says:

    This is a sample comment. A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot. Sileas Claudianus Shanda

  11. erotik says:

    I blog frequently and I truly thank you for your information. Your article has really peaked my interest. I will bookmark your site and keep checking for new details about once per week. I subscribed to your RSS feed as well. Janis Wit Jacquet

Leave a Reply

Your email address will not be published. Required fields are marked *