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The effects of money on love

October 6, 2014

Here’s a great idea

In their article, Financial Smart Start for Newlyweds: Introduction, James P. Marshall and Laura Connerly say, “Solving financial disagreements is an excellent avenue to alter the dynamics of even troubled relationships. Some major obstacles for couples regarding finances, if solved, would invite a better way of relating to each other.”

In other words

Solving financial disagreements reduces stress and alters the relationship dynamics of couples. When we come together as a team on financial issues by creating and carrying out a financial plan of action, we feel empowered, and we build security and trust within our relationship.

How this applies to you

Improve your marriage by working on your finances together. Work as a team to create a budget that lists all of your income, as well as all of your expenses. View your partner as an ally instead of an enemy. Come up with solutions that both of you feel comfortable with and can agree to. There may only be one person who handles the actual paying of the bills and balancing the bank accounts, but decisions about how the money is spent should be made by both of you. Plan a time each month to get together and go over how the last month’s budget went and what changes need to be made for the next month’s budget.

To find out more

check out the Financial Smart Start for Newlyweds fact sheet series at http://www.uaex.edu/health-living/personal-finance/life-stages-events/couples.aspx.We also recommend the Cooperative Extension Service’s Marriage Garden or Getting Our Hearts Right: Three Keys to Better Relationships curriculum, available at uaex.edu/couples.

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