Marriage Makes Millionaires

My dad has been doing marriage counseling for over 34 years. He has seen it all.

And one thing that he sees more often then Seinfeld re-runs are arguments between married couples over money.

Marriage is a massive contributor to wealth building. Studies show couples who stay married usually have a 77% higher net worth than couples who cohabitate.

In fact, according to the U.S. Trust, 86% of millionaires are married and 65% of them are still on their first marriage. Turns out, marriage makes millionaires!

But divorce will obviously make you go broke even if you have a good pre-nup in place and the number one contributor of divorce is...financial stress!

So obviously, we need to talk about marriage and money...

SUPER HOT TIP: If you have been stressed about money and want to reduce tension in the conversation, have sex before you talk about it! (Bow chicka wow wow)

Problems and Remedies

Okay, now on to the five common arguments couples have about money and specially concocted remedies for each of them: 

Problem 1: Disagreements over financial priorities
Remedy: Set aside time for open and honest communication about your financial goals and priorities. Create a joint budget that reflects your shared values and compromises. Regularly revisit and revise your budget as needed.

Problem 2: Unequal financial contributions
Remedy: Foster a sense of teamwork and mutual understanding. Consider creating a joint account for shared expenses while maintaining separate accounts for personal spending. Agree on a fair distribution of financial responsibilities based on your incomes and circumstances.

Problem 3: Overspending or impulsive buying:
Remedy: Establish a system for managing and tracking expenses together. Set spending limits or establish a "fun money" allowance for each partner to enjoy personal spending without guilt. Encourage each other to think about long-term financial goals before making significant purchases.

Problem 4: Debt and financial stress
Remedy: Develop a plan to tackle debt together. Consolidate debts if possible and create a repayment strategy. Seek professional financial advice if needed. Practice stress-management techniques, such as open communication, support, and seeking help when necessary.

Problem 5: Lack of financial transparency
Remedy: Foster an environment of trust and transparency by being open about your financial situation. Schedule regular money talks to review your finances together. Create shared financial goals and work towards them collectively. Consider attending financial workshops or counseling sessions to improve financial literacy as a couple.

Set Yourself Up For Success

Money is rarely ever the culprit for divorce.

It's the USE of the money that creates the issues.

That's why we have to be honest and open about how we spend it.

Two quick recommendations that solve a lot of problems are this:

1) Have 3 bank accounts. Account A where all income is deposited. Then, Account B and Account C where an agreed upon amount for spending on whatever you damn feel like...and there can be NO JUDGEMENT on how that money is spent.

2) Budget money for dates. Never stop going out and having fun. It gets more difficult as kids and careers come into the picture. While we stay the same, we also change and dating each other is the best way to keep that spark alive. Make time and money available to get out with each other regularly.

And don't forget, if things ever get financially sticky or tense, give each other a massage, do sexy time, and have a drink before discussing. 

I can't think of a better way to set yourself up for success in marriage...