It is an unfortunate fact that money is one of the major causes of stress and relationship problems for married couples. Money and relationships do not go hand in hand easily and the association requires some effort from both partners to make it work.

Most newlyweds struggle to adjust to their new way of life together and not least of all when it comes to dealing with finances. Each of us has different spending habits not only because we are individuals but are likely to have been brought up with different money skills. This will mean making some compromises when doing the household budget.

Here are some ideas to help make the financial part of your marriage harmonious and organized:

1. Understand each other’s view of money matters.

Understanding starts with acknowledging that the way that you both treat and spend money stems from how you were brought up by your parents and your own personality. For some, money offers security and needs to be protected and saved. Others like to spend and tend to be impulsive. They look at spending money as a means of rewarding themselves for their work. Then there are the thrifty that hardly ever spend, and certainly not without a lot of thought. It is easy to see how you and your partner can cause each other stress with such differing views. You need to sit down and discuss your beliefs and find a compromise.

2. Complete a budget or money plan.

As boring as budgeting sounds it is a vital part of sorting your finances. Change the name budget to money plan if it sits more comfortably with you. Consider everything that you need to discuss when it comes to your household budget and set some rules on how you will spend your combined income on utility bills, food, mortgage, car maintenance, etc. Make sure you allow some money for each of you that you do not have to account for. That way of you each can cater to your money personality. Set time aside each month to revisit your money plan.

3. Set financial goals.

Setting long-term and short-term goals will help you organize your financial money plans. If you are newly weds and you are planning to have a baby soon, consider this when organizing your finances. If you are a couple nearing the age of retirement, you can make plans on where you will spend your leisure years or how you want to spend that time together.

4. Always discuss large purchase items.

Be aware that if you are a dominant personality you may have a tendency to over-ride the thoughts and wishes of your partner. It is up to you to be considerate and listen to your partner’s concerns. Take a little longer with the purchase process and use the time wisely by comparing other options and research the item you want to buy. Not only could the process end up saving you money with a better deal but will save your relationship from potential problems related to money.

5. Share your money-saving skills with your partner.

With different family backgrounds you each have something to contribute towards organizing your joints assets. Share your money-handling tactics with each other and you may be surprised at what you each will learn.

By following these money and relationship saving tips and by setting fair rules you will ensure that your finances are organized. Not only that, but you will become aware early on of any potential money issues before they become a problem for you and your relationship. You will have the ability to take steps to correct them as a married couple and not a separated couple.

Author's Bio: 

Lyn Bell has been in the finance industry for more than 30 years and is a Certified Financial Plannerbased in Christchurch, New Zealand. She has helped many clients achieve their financial goals. Lyn invites you to receive a free e-book and sign up for more money tips with her ezine.