Money stresses can strain any relationship, but one issue that can kill a marriage is when one partner is a spender and the other is a saver.
Often one partner is a spender, and the other a saver
The spender often understands the point of saving, but simply doesnâ??t do it. The saver is reluctant to spend money, sometimes even when it is available.
This causes many arguments and can manifest into real problems over time.
Wants vs needs
The spender may make purchases that are sometimes wants and sometimes needs.
Fights erupt from the â??wantâ? items while some of the â??needsâ? remain questionable. Each party argues over which things are considered â??wantsâ? and â??needsâ?.
Compromise, respect and communication is the key to finding a solution
The key is to learn to accept and respect how you both feel and talk about the issues at hand. Itâ??s amazing how many things you can go without if you really try. In order for this to work, you must both make compromises.
Chances are there will be many issues surrounding how to spend your money. This is something that needs to be discussed and clarified. You will both need to make concessions in order for it to work.
Investments may cause conflict in a relationship
If the â??saverâ? wants to invest but the â??spenderâ? does not, a workable solution must be found.
Start out with small investments that are safer. A lower risk investment may be the key. This will work as the first of many compromises.
Here, the â??saverâ? will get to invest while the â??spenderâ? will see the low risk and may be more accepting of the idea.
A budget is crucial
Planning out a monthly and yearly budget will help you figure out where you are financially and where youâ??ll be next year. This shows you what is available for spending so you can decide how it should be spent.
Work together on the budget. While it is common for one person to handle the money, it doesnâ??t hurt for both parties to be equally involved. Itâ??s easier to understand one another if the budget is discussed together.
Money issues donâ??t have to end a marriage
While they will require discussion and hard work, they can be resolved. The key is to pay constant attention to what is going on before it becomes too big to handle, and communicate with one another on a regular basis.