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finances in marriageAgreeing on finances in marriage and creating a monthly budget with your spouse is very critical to having a healthy, happy, and fulfilling marriage.

As you know, marriage and finances go hand in hand!

Therefore, it is important you learn how to agree on finances with your spouse; as soon as possible.

By doing a budget and agreeing on finances together, you will connect with each other in ways you never imagined.

The process of coming up with a budget and agreeing on finances with your spouse also sets you up to work together. And grow closer towards your financial goals while increasing marriage intimacy.

In addition, it will open lines of communication that would not be there otherwise.

You can do it.

Simply discuss your income and expenses, write them down, then compromise and agree on a budget for your family.

Now make sure you both agree to each item in your budget, if not find a way to compromise.

When one person is talking, the other must listen; his or her turn will arrive soon.

Also have a discussion about your financial goals such as savings, investments, retirement, big purchases like the family car, your home etc.

A few questions to consider on how to agree on finances in marriage.

Or, money related issues with your spouse.

1. Who is the saver or spender?

2. What marriage expectations do you have when it comes to money, finances, income, paying bills, loans, debt, etc.?

3. How do either one of you view money? Is it evil, is it a tool, is it only for a select few of people, etc.?

4. How do you want to spend your money, where and when?

5. What are your financial goals?

6. Why is agreeing on finances or budgeting important to you, your spouse, family and/or marriage?

Would budgeting be easy?

Budgeting for the first time will not be easy or perfect but you will eventually get a zero-based monthly budget if that’s your goal.

It usually takes about 3- 6 months to get it right.

A zero- based budget sounds like a very simple thing to do, but trust us, it’s not that easy especially if you have not lived by a budget before.

To help us agree on finances in our marriage and budget correctly, we follow the Dave Ramsey principles.

These principles called Baby Steps is common sense for our money.

But we still struggle to follow them.

We also listen to his show and have read his best personal finance book, The Total Money Makeover.

Having separate finances in marriage is not a good idea.

After marriage, you become one with your spouse, so why should you have separate finances instead of combining them?

If you want to really have a healthy marriage, we highly recommend merging or combining your finances after you get married.

This will help you and your spouse become one with not just your souls, but your money too.

Being united over money will also help you to build a strong foundation for your marriage!

Living in unity in our marriage finances has been an integral part of our marriage.

It ensures we are on the same page on how we spend our money and where it is spent.

For example, we were able to make quicker decisions when buying our family car, furniture for our home, etc. because we agree on our finances.

Should you live in debt, or be debt-free?

The thought of living debt-free was a hard concept for me. I was taught that everyone borrows student loans in college; everyone has credit cards for emergencies.

These statements are not facts though. I’ve learned how to live without these things, and have a student loan bill from before that I cannot wait to pay off and be free from! Ashley

In Ghana, living with debt is not a common lifestyle. Therefore discovering that many people in the US have debt in one form or the other was shocking to me when I first arrived here.

But I soon realized its due to how easy and simple debt can be accumulated for various reasons. I personally do not want to live in debt because it hinders me from many opportunities and plays a big role in making financial decisions.

My quest for personal development led me to Dave Ramsey’s podcast on iTunes which has improved my money and financial decisions. Marcus

Dave’s show always motivates and encourages us because we hear and see real people who are living debt-free share their unique stories.

These stories vividly show us it’s possible to live debt-free and build wealth for our family.

Are we perfect? Heck no!

Sometimes we mess up, have to rearrange the family budget for the next month and promise to do better.

It’s been a learning process for us.

Due to one of us being a saver and the other being a spender, we had to learn our differences, and discover how to work together before finally agreeing on our finances.

By agreeing on how to spend our money early on in our marriage, we were able to survive the first year of marriage.

Always remember, agreeing on finances in marriage, and a monthly budget with your spouse is very important for the success of your marriage.

Your turn:

Do you believe agreeing on finances and having a monthly budget plays a massive role in the success of any marriage?


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