Money and relationships go hand in hand. You must be able to communicate with your significant other if you’re going to have an open and honest financial life together. When my wife and I got married, I took care of all the bills and we never talked about money. I always just said “I’ll take care of it”. Without my wife included in our money we kept going into debt and she wasn’t the wiser. She knew I brought some debt into the family and I knew she had some too. But we never sat down and budgeted, never planned ahead, we just kept blindly going through life amassing a mountain of debt. Once we woke up and began to talk about money our relationship has improved a ton. I can’t being to tell you how much easier my life is now that she’s included in all financial decisions.
This week I’d like to spotlight some great posts around the topic of Relationships. I’ve been thinking about writing one soon, but until then these are excellent reads.
Financial Infidelity. What constitutes financial infidelity and how do you deal with it? Three great ways to handle this question are explored. Communication is the name of the game when dealing with financial infidelity. (Guest post by WealthPilgrim @ FrugalDad)
Financial Infidelity Spend money on a big ticket item and not tell your spouse? Follow these guidelines and it will never happen again. My favorite guideline is Grow Up, stop thinking of yourself. (@ DoYouDaveRamsey)
Should Married Couple have Joint or Separate Bank Accounts A very detailed post about the pros and cons of using a joint or separate account structure. I’m still amazed how emotional people get over this topic. I vote for joint having used both ways in the past. (@ EngagedMarriage)
How to Talk with your Spouse about Money “Talking about money is one of the great taboos of our culture. I know more about my friends’ sex lives than I do about their bank statements.” With an introduction like that how can you not want to go over and read the rest of the post? (Guest Post from ChildWild @ GetRichSlowly)
Family Memeber Loan – Three Reasons I Would Reconsider Money and family almost always NEVER go hand in hand. Three extremely valid reasons not to use the Bank of Mom and Dad are reviewed. (Guest post from MoneyRelationship @ MySuperChargedLife)
Separate Bank Accounts with Your Spouse? A Personal Finance bloggers choice to have separate bank accounts, the pros and cons are explored in detail. I love this question so much I had to include two posts on the topic this week. (@ MoneyFunk)
[Dysfunctional relationship image via Brenda & Eddie’s.]