Khaleej Times published an article on how married couples can manage their finances better, based on the tips by Souqalmal.com.
Don’t keep secrets about money
A 2014 study published by American Express – the ‘American Express Spending & Saving Tracker’ – revealed that 33 per cent of men and 40 per cent of women admit to hiding purchases from their partners. The study also showed that 22 per cent of men and 19 per cent of women did not disclose their existing debt to their partners.
There are no small or big lies when it comes to discussing money in a marriage. It is better to adopt a ‘full disclosure policy’ on all financial aspects with your spouse. This will not only help build trust on both sides, but also help you work towards your financial goals as a team.
Talk about how to align your financial goals
The study by American Express also showed that 48 per cent of couples have discussions about money less often than once a week. That’s not nearly enough! And what do you do if one spouse is a spender and the other a saver? How can you meet in the middle, avoid arguing about money and still have a financially secure life as a married couple?
For full article go to Khaleej Times