Financial stress can harm your marriage, so it’s important you find a solution to lessen the impact of financial stress in your marriage.
Below are 5 ways to reduce financial stress in your marriage
1. TALK ABOUT IT WITH YOUR SPOUSE:
The first step is talking about it with your spouse. It may feel uncomfortable (especially for the men) but talking about it opens the door to working together to find a solution.
2. WRITE DOWN WHERE ALL THE MONEY GOES:
You need to take a look at your expenses so you would have an idea of where all the money is going. Compare your expenses with your income and together with your spouse, consider what expenses can be trimmed. The goal is to live below your means by cutting unwanted expenses.
3. SAVE MORE:
Decide with your spouse how much should go into savings. You need to save more if you are serious about reducing the financial stress in your marriage. Set savings goal that are measurable and definitive. For example “I would love to save $1,000 in 6 months.
4. PAY OFF DEBTS:
You can’t attain financial freedom by having huge debts. Ensure you pay off your debts as quickly as possible because reducing your debts frees up extra cash for saving and investing.
Most people shy away from insurance but the truth is that proper use of insurance can reduce financial stress by helping to ensure you and your loved ones are financially protected no matter what.