How to Manage Money as a Couple

One of the most important tools of a successful relationship with your spouse is: Communication.

You have to talk! Even more so when it pertains to money.

A recent reader was interested in how my wife and I manage our finances. Great question!

It was so great that I solicited my wife to film this video. Check it:

How about you? How do you and your significant other successfully manage money together?

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Comments | 7 Responses

  1. says

    Our biggest strength to managing our finances is that we are completely transparent with each other. While we might have differences in opinions sometimes we still always talk to each other about purchases we make or big purchases we want to make.

  2. Jessica N says

    I have always considered honesty an important and necessary part of any relationship. I have seen relationships as well as the finances of others crumble because they didn’t seem to think that was important. As a matter-of-fact I have a friend whose parents are in so much debt, and unfortunately for her father, he doesn’t even know how much. My friend’s mother borrowed over $30,000 from my friend, and is in just as much debt with companies that actually will come after her eventually. The worse part is, now both parents are having health issues and the father needs a half a million dollar operation. In the end she has buried her husband without his knowledge and I can see the walls crumbling down since my friend’s mother no longer has anyone to “monitor” the mail and collect any debt letter to hide. It’s so sad to imagine this happening to anyone. All the more reason I am 100% open with my husband. I don’t nit pick at what he buys, but if it’s a big investment we will talk it out first.

  3. Brian E says

    I think it is interesting how couples can differ so much on finances. With my significant, she is also very planning, long-term focused. I, on the other side of matters, don’t care about squeaking by.

  4. says

    The hardest thing for me is getting out from under our debt. I don’t feel like we can really save when we have so much debt to pay off like student loans, car, etc. (Relatively it’s not a lot compared to what some have, but it’s a lot to me.) I feel like it’s so hard to talk about finances with my spouse because he’s not a spender at all.

  5. says

    My wife and I successfully manage our money by always being transparent with each other. Before we invest or spend money on something, we always talk about it and make sure that we are on the same page. There are times when we don’t agree on financial matters, but we make it a point to always come up with a compromise. When in doubt.. talk it out! Great video Jeff!

  6. says

    Managing money as a couple is very different than managing money as an individual. Things like spending habits, bills, and different outlooks on how money should be managed are things that all need to be addressed or you will be bound to have issues. The best word of advice: Communicate effectively and put everything out in the open upfront and then move forward from there.

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