We are proud to help spouses work together as a team to manage money and the home. Modern Husbands was founded just over a year ago, and in that short time, we have shared nearly 200 posts and just over 50 podcast episodes.
Here are the top five blog posts that resonated most with our community in 2023. These articles explore the essence of shared responsibilities, financial acumen, and harmonious collaboration within the modern household.
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How Should Money Be Split in a Marriage?
Article Summary
Splitting finances in marriage can have an impact on marital quality, stability, and satisfaction. There is no one way that is best for every couple. New and groundbreaking research shows that married couples with joint bank accounts not only have better relationships but fight less over money and feel better about how household finances are handled.
Separate accounts in marriage may reduce conflicts over spending habits, budgeting preferences, or financial goals, but may also create a sense of distance or distrust between spouses, especially if they do not communicate openly about their financial situation.
Couples should manage their money together to reflect their values, goals, expectations, and behaviors. There is no one right way to split money in a marriage, but agreeing on issues related to spending may be a good start.
Read the full post: How Should Money Be Split in a Marriage?
How to Talk to Your Spouse About Money
Article Summary
Managing money can be a significant source of stress for couples. Schedule time to discuss money with your partner to avoid conflicts.
Experts recommend regular household business meetings, often called money dates, to keep couples financially on the same page and divide money management tasks based on their skill sets and what they like to do.
Related: Money and Marriage Quizzes
Talking about money is initially hard for most people, particularly if you have never meaningfully discussed it. Work through the emotions by being an active listener and asking clarifying questions.
To manage money effectively as a couple, both spouses should be fully transparent about what they earn and see money as a tool to use together to bring more joy and security to the marriage.
Money should not equal power in a relationship, nor are money and masculinity married. Conversations about money are really conversations about your marriage and what you value. Respect each other and your marriage as a togetherness, not two individuals whose power and control are determined by income.
Read the full post: How to Talk to Your Spouse About Money
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How to Manage Money in a Marriage
Article Summary
Countless factors contribute to our relationship with money, including what we see and hear from our parents and guardians. This shapes the role we see money having in our lives and complicates many financial decisions beyond what can be solved by solely setting a budget.
When preparing for a tough conversation about money, schedule a Money Date with your spouse. The timing and environment of when to talk about money are essential to reduce the emotion it can bring. Avoid arguing about money and pause the conversation when you feel emotion beginning to rise.
When you understand your behavior and how you and your spouse behave together, you can choose the money management tools that work for you.
According to experts, changing our environment is essential to changing our financial habits. Naming our savings accounts after our goals can help. Make saving easier and spending harder.
Read the full post: How to Manage Money in a Marriage
What is a Money Date
Article Summary
A money date is a scheduled conversation about money between you and your spouse. It allows both partners to control money in the relationship.
For my wife and me, discussing what we value most before making significant financial decisions has served us well. However, for others, it might be more complex. Some may feel anxious to talk to their spouse about money. Still, typically, people feel relief during a money date, especially if they have been avoiding their finances or feeling overwhelmed.
Respond favorably to similar emotions from your partner, be an active listener, and refrain from judging their attitudes or feelings. Work through the emotions evoked by talking about money.
Ask the right questions before you talk about money with your partner. Avoid talking about past financial mistakes and focus on the future. Start your conversation about money with questions that create positive conversations:
What do you enjoy spending money on the most?
If we won $5 million, what would we want to do with the money?
Leave money dates with a clear understanding of who is responsible for each money management task. Partners may divide the money management tasks based on their skill sets and what they like to do.
Read the full post: What is a Money Date?
How Does Money Affect Marriage?
Linked Article Table of Contents
Read the full post: How Does Money Affect Marriage
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Winning ideas from experts to manage money and the home as a team. 2023 Plutus Award Finalist: Best Couples or Family Content
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