Love and Money - How to Make Your Relationship Financially Sound

Did you know that money is the leading cause of divorce? In a society where 59% of marriages end in divorce you have to wonder how many of these marriages could have been saved with a little financial counseling. Here are a few things to think about when it comes to coupling your finances and making a financially sound relationship.

It is important to understand who you and your partner are financially. Some people are frugal to a fault while others spend money haphazardly. Even if you live in two completely different financial worlds, there are ways to tolerate, accept, and compromise on money issues. Couples who talk about their money issues are twice as likely to survive them.

You must be financially responsible yourself before you can be financially responsible in a relationship. Every couple, no matter how well off you are, should have a budget. You must live within your means, even if this means changing the way you live. Always pay yourself first; having an untouchable savings account is vital to any financially sound union and speaks to your future as a couple. Try to have at least 3 months income saved at all times and paying off your debt should be a top priority. If you're still in the process of working out the kinks in your combined budget then keep separate banking accounts for your allowance and miscellaneous activities.

Compromise, compromise, compromise! It is a rule you must adopt when dealing with any relationship, whether the issues be about money or not. Put yourself in your partner's shoes. Did they grow up with wealth or were they born into financial scarcity? Understanding their early education on money will help you understand why they feel a certain way. Sometimes you'll have to give in and sometimes you'll have to give something up, but your partner should afford you the same courtesy as well, that is the beauty of compromise.