Managing Marriage and Money Problems
Experts offer tips for investing in your marriage so you can worry less about your money.
Scenario 1: Neglect = Marriage and Money Problems continued...
"Our relationship dynamics and resentments get played out with money," says Jenn Berman, PhD, a marriage and family therapist. "It's not uncommon to see a person get mad at his or her spouse, and then go out and buy something as revenge."
What's the solution? Find a good marriage counselor, and work through your relationship issues, explains Berman.
"Working through a couple's relationship issues can also help solve their financial problems," Harley tells WebMD. "When you fix the root cause, the subsequent problems like money improve as well."
Scenario 2: Love Is Blind
Another common financial problem can occur when a couple is so blinded by love that they spend with no regard for a budget. They take lavish vacations together, buy expensive gifts for each other, or buy a home they can't afford. These expenses serve as a symbol of love for a new spouse, but they also serve to dig a couple deeper into financial turmoil.
"The problem with this scenario is, they eventually run out of money," says Harley.
Once these couples fall into debt, they have something to fight about with both marriage and money problems at play.
In this case, the solution is a smart financial planner who can offer guidance on budgeting, long-term investment goals, and help in getting out of debt, explains Harley.
"A married couple in this scenario needs to wake up and smell reality," says Harley. "They need to understand how much they earn, and how much they can spend, and stop being so ga-ga over the other person that they're overspending."