Friday, November 13, 2009

Money & Marriage

Posted by: Janielle Viggiano

Marriage is a partnership and separating the money and splitting the bills is a bad idea. Men and women are very different when it comes to money. According to Dave Ramsey, “When it comes to money, men tend to take more risks and don't save for emergencies. Men use money as a scorecard and can struggle with self-esteem when there are financial problems. Women tend to see money more as a security issue, so they will gravitate toward the rainy-day fund. Because of their need for security, ladies can have a level of fear (2009).” One of the leading reasons for divorce is money issues. According to the New York Times, there are at least four issues you should address with your spouse before getting married.

  1. Ancestry- looking at your personal past and how your family dealt with money
  2. Credit- A credit report will tell your spouse about past mistakes and overall habits.
  3. Control- who will do what in the relationship when it comes to paying bills
  4. Affluence- how much money do you and/or your spouse want to have someday and how will you be able to accomplish your goal

Next are five financial issues that will likely cause a strife between you and your spouse:

  1. Reduced circumstances
  2. Your mistakes
  3. Your parents
  4. Your uncertainty
  5. Your children

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http://www.nytimes.com/2009/10/24/your-money/24money.html?_r=1

http://www.nytimes.com/2009/11/07/your-money/household-budgeting/07money.html

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