Money Advice for Married Couples – How to Avoid Debt Problems


Money doesn’t have to be the most stressful issue in your marriage. Now’s the time to learn how to talk about money and avoid debt problems – even if you think it’s too late!

Before the tips, a quip:

“Can anybody remember when the times were not hard and money not scarce?” ~ Ralph Waldo Emerson.





I daresay times are always tough for personal finances and saving money, and every decade and era brings its own money problems. The sooner we accept that money problems are part of life — and more importantly, the sooner we start believing that we have enough money — the more debt problems we’ll avoid.

For a fresh new take on marriage, read I Do, Now What? Secrets, Stories, and Advice from a Madly-in-Love Couple. Glamorous couple Giuliana dePandi of The Style Network and Bill Rancic of The Apprentice take you behind the scenes of their marriage. She has been stationed in Los Angeles as one of E! Entertainment’s most popular personalities, and he’s kept his home in Chicago, where he runs a business empire. Many people are wondering how this marriage is really working out.

They’ve faced the big issues that wedlock invites, including money (to merge or not?), household chores (she’s disorganized, he’s a neat freak), arguments (without staying mad), and trying to have a baby (it’s not as easy as they thought!). Sharing their newfound and sometimes hard-won insights, they offer suggestions on such topics as communication, giving and receiving support, trust and jealousy, quality time, friends and in-laws, fighting fair, and sex and romance.

And, here are several money tips for married couples…

Money Advice for Married Couples – How to Avoid Debt Problems

The first thing you need to do is dispels myths about being marriage, and decide if your marriage is good or bad.

Then…

Work towards the same money goals

If your goal is to save money to pay off your mortgage debt, and your spouse’s goal is to spend money renovating your house to make it a financial investment, then you won’t just run into money problems…you’ll run into marriage problems, too. One of the most important pieces of money advice for married couples is to ensure that you are focused on the same financial goal.

Talk about money regularly

Have regular discussions about your current and future finances. Where do you see yourselves in one year, five years, and ten years? Are you on the right road, or do you need help avoiding debt problems? If your marriage is causing money problems, then you need to try new and different solutions. That is, if talking about money only leads to arguments, then you might schedule an appointment with a financial advisor or counselor who can give you money advice.

Figure out why you’re struggling with debt problems

Are you frustrated because you and your partner have different money personalities — perhaps you’re a saver and he’s a spender? Are you depressed because you and your partner can’t agree on your financial goals? Maybe you feel overwhelmed by credit card or student loan debt that you can’t pay off. To solve debt problems – and perhaps find debt busters – you need to learn what the underlying cause of your money problems are. This includes learning how to talk finances as a couple.

Be objective and strategic about dealing with your money problems

If you’re emotional about money — and most people are — then you need to work together as a married couple to stay rational and level headed. This is one of the most difficult bits of money advice to remember, especially when you’re fighting about finances! But if you can deal with your anger, frustration, and other negative emotions — and instead focus on gratitude for what you have (the law of attraction and money) — then you’ll find it easier to avoid debt problems.



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Look for the possibilities in your debt problems

In Outliers: The Story of Success, Malcolm Gladwell writes, “Sometimes constraints actually create success. Not being able to swim made me run. And running taught me the discipline I needed as a writer.”

As a married couple, what are you learning from the obstacles in your life — financial or otherwise? Are the problems leading you in an unexpected direction? The sooner you accept the lessons, the faster you’ll solve your debt problems and move towards financial freedom.

If you have any thoughts on this money advice for married couples, please comment below.



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2 thoughts on “Money Advice for Married Couples – How to Avoid Debt Problems

  • Laurie Pawlik-Kienlen Post author

    Sometimes the most awkward conversations are the most important ones – especially when it comes to money and married couples!

  • Deborah

    Talking to your spouse about financial issues could be an awkward moment. However, it should not stop you from having these kinds of discussions. After all, you and your spouse should be on top of your household expenses. In the long run, making sure that your finances are sound will benefit your family in the long run.