Have You Been Fighting over Finances?

Physician's Money Digest, January31 2004, Volume 11, Issue 2

Having conflicts with your spouse about finances? Money magazine suggests that couples may be able to resolve their money problems and create a more pleasant home life by following Charlottesville, Virginia planner David John Marotta's five money vows. Marotta suggests that couples keep a spending diary for a month to be aware of their own and each other's expenses. He states that couples should set aside a percentage of income that each person can use without the other’s approval to be sure the budget isn't blown away by secret splurges.

Marotta says that couples should allow each partner to have veto power over borrowing decisions. Ensure future financial success by saving at least 15% of take-home pay. Most importantly, be sure that both partners are involved with money decision making. By establishing these financial rules and vowing to keep them, couples can avoid fighting over finances.