Acccording to a study by SunTrust, finance issues are responsible for 22% of all divorces. Another source said 43% of marriage issues are money. These show that finance is a very important aspect of marriages such as it is important for businesses.
A marriage with money problems will affect the relationship leading to arguement which will make couples not to enjoy their marriage.
Daniel Smith, an financial expert cited in The Marriage Medics, said future arguments over finances can be avoided by simply communicating, creating an understanding of expectations, setting objectives and agreeing on a roadmap on financial matters.
The Marriage Medics outlines the ten financial plan tips for couples of any age:
1. Stop living beyond your means.
2. Treat the household like a business.
3. Create an income-and-expense statement.
4. Create a balance sheet.
5. Create a budget.
6. Figure out how to pay down your debt. Agree on a plan of action in which you both share equally in cutbacks.
7. Find ways to cut expenses.
8. Go on a debt diet starting with the little stuff.
9. Have only one credit card for your entire family.
10. Celebrate when you pay off a debt