Ted and Sarah have difficulty talking about money, as it is a constant source of conflict. Ted gets frustrated that he works hard to bring in the money and they never seem to get ahead. Sarah naturally avoids conflict, so she inadvertently sabotages their efforts by not communicating with Ted about upcoming bills. This of course angers Ted and adds late charges to an already tight budget.
Even though money seems like it should be handled without emotion, it isn’t. So much of who we are is wrapped up in our money! For men the traditional role as provider says a lot about who they are as a man. The expectations have been built up into status. If you make a lot of money, you are a success. If you don’t, not so much!
For women, we tend to view money as security. If we have money, we don’t have to worry about where to live, what we wear, and what we eat. If we are short on money, we tend to worry.
Rich and Anna didn’t have a large income, but they made it work. However, Rich felt that because he worked hard he deserved a nice truck. He spent a lot of money on his trucks while Anna scrimped and saved and did odd jobs to feed and clothe the kids. Over the years Anna and Rich had many arguments, and eventually Anna took over the management of the money. She didn’t give Rich much to spend, so when Rich got an overtime check, he’d cash it and spend it without telling her.
How you handle money can build trust or be a source of mistrust. Typically, every couple has a spender and a saver. And unless the two have agreed upon goals and budgets, the constant push and pull of the money can be destructive to a marriage. The solution lies in acknowledging our shortcomings and for both to be involved in money management. We need to ask ourselves the hard questions and then answer honestly:
• Are we both committed to improving this area?
• Who is the saver, who is the spender?
• What are our individual responsibilities?
• What do we both want from our money?
• Where can we cut our spending to invest in our future?
• When do we waver in our control of spending?
• How did we get ourselves into the debt we have? How will we get out?
• Are we a slave to our home, striving to make the payments?
• Is our money working for us, or against us?
• How deep are we willing to cut luxuries to ease financial stress?
Have a regular business meeting with your husband to get on top of things. When we are proactive about communicating, especially when it comes to money, it will have an accumulating effect much like the emotional bank account. For the one who does most of the money business, it’ll really help him/you feel a lighter burden.
To keep our money life intact, we need some guiding principles. Then we need a plan based on those principles. I’ve included some financial guidelines that Brent and I have learned and tried to practice over the years.