Why communication about finances is essential in marriage

On Behalf of | Jun 1, 2022 | Divorce

How well do you and your spouse communicate about finances? Do you know if you and your spouse have similar financial goals? If not, your lack of communication about finances could potentially cause problems not only with your bank balance but your marriage as well.

Different financial habits

A couple with differing financial habits and attitudes is not necessarily destined to break up, but open and honest communication about monetary expectations is crucial. An exploration of both separate and shared finances, with emphasis on building a shared approach to marital finances is key to reducing conflict about money.

More than just wealth

Discussing money matters with your spouse may be uncomfortable because, at their core, financial discussions are not only about money. Control issues, gender role values, and commitment to the relationship are just some of the larger subjects looming in the background of budgeting discussions. If only one person in the relationship works outside the home or if there is a wide disparity in income, it can be tempting for the person who earns the most to want to call the shots about spending. Expectations from families of origin and the arrival of children can stretch budgets and add another layer of potential disagreement. In the end, couples that don’t communicate financial statuses and goals to one another are at risk of marital instability.

What do you do next?

When things progress to the point that you know the marriage just isn’t going to work, that’s when you may find yourself considering a divorce. This can be a complex process, so be sure you know exactly what steps to take and how to focus on your future.