Financial friction is one of the leading causes of miserable marriages and divorce — but it doesn’t have to be. When couples commit to making a few critical money decisions after the honeymoon ends, they can set themselves up for decades of happiness and prosperity.
“Managing finances as a couple is an important aspect of building a strong and stable future together,” said John Garcia, CEO of Prudent Financial Solutions. So, first, congratulations on the wedding. But now it’s time to tackle the financial issues facing you and your new spouse before they tackle what could have been your happy marriage.
Although it’s much easier to get excited for karaoke night, movie night and even Scrabble night, money discussion night is the one with the power to save your marriage.
“There’s no need to wait for things to go wrong before broaching the subject of money,” said financial industry veteran Jeremy Biberdorf, owner of the investing platform and services comparison site Modest Money. “Instead, it should be a healthy, ongoing conversation. So, schedule a financial date night once a month to discuss your financial situation, make plans for the future, and assess your progress toward your goals.”
Biberdorf suggested monthly money check-ins, but they could also take place weekly or every night at dinner. It doesn’t really matter as long as you’re talking.
