YOUR MARITAL FINANCES

money issues. This data speaks loudly of the major reason most couples fight. If

one is frugal and the other spends money like it’s going out of style, it can't help

but create problems in your marriage.

Therefore, the earlier you and your spouse talk about spending habits the better.

It's important to establish spending expectations, set goals and decide on a

financial plan for your family.

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able to live at the same standard as their parents when they first get married.

It took their parents a lifetime to create the financial stability they now enjoy, so

new cars and nice homes are a goal to work towards. The reality is they may

need to drive a clunker car and live in an apartment while they get their

education and begin their climb up the corporate ladder.

Those days of 'poverty' will be looked back on with fond memories as they

remember how they pulled together and sacrificed at the beginning of their life

together.

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couple's financial stability. An important key in resolving these problems is to

not eliminate the differences but to understand each other’s viewpoint on these

matters and work for solutions. It's important to recognize each other’s feelings

behind their approach to spending money.

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communication regarding financial matters is to focus on long-range financial

plans and goals. It's much easier to agree on saving for retirement or a college

fund for children. When these long-range goals are set, its easier to manage the

money hear and now and develop a unified approach rather than attacking each

others view on who money is spent on a weekly basis.

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their money handling skills by modeling how you handle

money. Take advantage of money teaching moments to help

teach your children important financial skills.

One valuable tool is to provide an allowance for them to

manage their spending on 'non-essential wants'. Little

children will budget for toys or candy while older children

may need to be sure they use their lunch money/gas money

etc. well so they can do all that is required or desired as a

teenager. This will allow them to learn life lessons that will

help them greatly when they are living on their own.

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impulsive. This is especially true when it comes to handling

their money. A child will be well served to learn from their parents the

importance of comparing choices, alternatives and the consequences of these

money decisions.

This reflective thinking will teach them to reflect upon a decision before and after

to assess if they have made the best choice. (This is not the time for the parent to

say, "I told you so.") One idea to help them be more reflective and less impulsive

is to not buy an item the first time they see it at the store.

Then when they return, they can consider if they still want it, or even remember

to go look at again. Another idea would be to put a notation about this item on

the calendar the day they first desire to buy it, if they still want it in a month,

then they are on their way to reflective rather than impulsive buying.

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important to teach them that they can do more with

their money than just spend it on themselves.

Encourage them to be more compassionate and caring

by sharing their money with worthy causes.

Once again, it's important for you to model this

behavior. Although writing a check to a worthy charity

is a great start, consider a charity that may have special

meaning to your family. For example, if family or

friends have been afflicted with Alzheimer’s, diabetes,

kidney disease, cancer, brain tumors etc. consider

making a donation to those charities and have your

children participate.

Don't forget that when you model charitable behavior,

include volunteering at your child's school, the local food bank etc. so that they

will learn early in life the joy of helping others.

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responsibility as a child, they will have to learn it as an adult and that can be a

much costlier lesson. Along with giving your child an allowance, give them

guidance to help develop a balanced perspective about money. Their financial

education should include encouraging them to save, invest, and make donations

as well as spending money.

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Obviously, if you want your children to work hard and glean satisfaction from

their efforts, you will need to be sure you are modeling the correct message.

Work with your child, especially when they are young so they can better

understand your expectations, receive positive reinforcement and learn the joy of

a job well done. (That, of course, will require you to be joyful and express your

satisfaction of the completed work.)

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that can evolve into a money disorder. This can cause major chaos within a

family and will obviously send the wrong messages to your children.

There are a variety of money disorders that can range from excessive chopping

that creates huge credit card dept, to excessive frugality. Any extreme money

tendencies not only confuse your children on appropriate handling of money, it

creates insecurity in their lives as well.