Marriage and Money – Can Love Survive a Budget?

Can love survive a budget? Picture a newlywed couple talking dollars and cents and discussing money saving tips – not exactly the picture of romance! So, can love survive a budget? I say it can’t survive without it.

Let me explain.

Money problems are often cited as the number one reason for divorce. Whether that’s true or not is subject to debate but no one can argue that money problems are definitely a cause for friction in a relationship. Talking about money is such a taboo subject, but it’s such an integral part of a long term relationship that I think it’s essential to lay the groundwork.

Here are some tips on how to do that:

  1. Talk about it upfront. Discuss who brings in how much and how it will be allocated. Agree on a budget.
  2. One person has to be assigned as the one in charge of the household budget. This doesn’t mean one is more powerful than the other. It’s just a matter of matching tasks to personality. Click here [] to find your money personality.
  3. Decide on whether or not to merge your finances. I won’t argue either camp because both options can work well as long as it’s mutually agreed upon. to pay it down as soon as possible..
  4. Set clear expectations of each others roles. Is it a 50/50 partnership where both parties are responsible for bringing in income? Or is one person, usually the man, expected to be the main breadwinner. Whatever arrangement works for your marriage and money. But spell it out so there is no misunderstanding.  
  5. If your spouse is bringing debt to the union while you are debt free, don’t turn your back and say ‘not my problem’, because it could become your problem if you end up owning assets together (e.g. a house). Figure out a debt management plan.

Budgeting is by no means romantic. But when the bills are paid, debt is under control and there’s money set aside for emergencies, it certainly frees you up for romance! Whatever romance your budget allows – a night out of splurging or love on a dime!

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