Okay, a budget may not exactly add romance to your marriage, but it may help reduce marital money fights. A new national survey I commissioned from the market research firm Synovate found that married people who use a budget experience fewer financial disagreements with their spouse than those who don’t use a budget (see the news release here). And the more detailed the budget the fewer the financial fights.
And yet, just 12 percent of married people report using a detailed budget. I’m not suggesting that a ledger book would be a better gift this Valentine’s Day than a romantic dinner, but I am suggesting that working together on a plan for your money would be a good step for building a great marriage.
The survey also looked at some of the contributing factors behind financial disagreements, with respondents identifying temperament differences as a key issue.
Not surprisingly, couples with children at home are much more likely than those without children to experience financial disagreements. There is simply a lot more to spend money on when you have kids. The good news for all married couples is that financial disagreements seem to taper off the longer you’re married.
This is so true yet many couples don not get it. I have talked to alot of people, and i find that many married couples do not do the money thing together, they let one spouse manage that aspect of their relationship. While it may work for a short term i think it is a time-bomb in a marriage if couples do not plan their finances together with a living ‘budget’