If you’ve been married awhile, you’ve undoubtedly accumulated a fair share of assets as well as debts.  But do you actually know just how much?  Knowing how much you have to spend on a monthly basis is just as important as knowing how much you have to pay out in bills. 

The problem with many couples is they tend to spend more than they have, while accumulating more debt than they can handle.  According to many experts, money is the number one cause for divorce but it doesn’t have to be.

Tip #5:  Get a Grip on Your Finances

Did you know your upbringing, culture, and gender can influence you and your spouse's approach to money? Do you know what your financial personalities are? Case in point:  My husband is fiscally conservative and I’m more apt to spend “just because.”  When we got together, I knew I would have to adjust my spending habits.  And now that I’m a work-at-home mom, I have to be even more money conscious. I haven’t stopped spending money but I am mindful of where those dollars are going.  If your spouse is the primary breadwinner, don’t work against him by trying to drive him into the poor house.  Instead, work with him and come up with creative ways to make your dollar go farther each month.    

Financial Planning is crucial no matter how many years you’ve been married. Do you have any financial goals for your future? If you do, re-evaluate the progress you are making toward your goals. If not, make some goals, both short-term and long-term.  Remember, retirement will be here before you know it.

Next Time:  Couples who pray together