Marriage & Money

I recently read and Article that talked about how to manage Money and Marriage the right way.  This prompted me to think about the month of June and all of the weddings that are planned.  My husband Robert always says, couples plan the Wedding, but not the Marriage.  Newly engaged couples, need to pick out more than a dress, cake and a honeymoon destination.  There needs to be discussion around how to merge separate finances into a system that will keep them financially secure and blissfully wed until death do them part.

Just to be clear, talking about finances is only helpful if you're approaching the conversation from the right angle.  Know the right way to combine your money.  "Marriage can be challenging in the beginning, let alone trying to figure out how to comingle finances," that's why it's important to sort out money management issues before you say "I do".  If you have already said "I do", sit down and have a discussion with your spouse.  Go to coffee shop and initiate your conversation. This maybe a difficult conversation to have.  It's an emotionally vulnerable topic. Discussions are just as important as the money-management method.  Couples should not assume finding the right money management system means they are done having financial conversations.  Continued conversations are necessary throughout a Marriage.

Married couples use many methods to manage their money.  Some keep their income separate and divvy up the bills as they would with a roommate.  Others place all income into a shared account from which all expenses are paid.  Meanwhile, a hybrid method involves using a joint account for household bills and set up individual accounts for personal spending for each spouse.

This is a reality in most households today.  Let me share this scripture with you, Mark 3:24 "If A Kingdom is divided against itself, that kingdom cannot stand. (NLT)  Couples need to workout a financial system that is best for them.  However, whatever that financial system may be, it is only right if it promotes trust and transparency.  It's a mistake to hide anything about how you are spending or saving money.  This is a slippery slope and this is not the foundation you want to build your Marriage on.