If You Disagree on Spending… (Part 2)

In the last Normal Marriage Post, we began looking at a topic that can be so problematic in marriage it ranks right up there with sex and communication. The topic was money.

In the last post, we looked at the two issues that make money and spending so difficult in marriage: money deficiencies and spousal differences. (If you haven’t read that post, take a second to check it out.)

In this post, we want to get practical.  Whether your problem is too little money or too many differences, what can you do to make things better in the area of money and spending? How can you solve conflicts over money?

In order to solve our money conflicts, we must know how to solve conflicts in general.

SOLVING CONFLICTS IN GENERAL

Don’t do this…

When there is a conflict in marriage, a spouse will usually default to one of two positions:

  • They will apply pressure to get their spouse to cave.
  • They will fold and let the other spouse have their way.

Neither of these is a good way to solve a conflict in marriage. It makes one person a winner who feels superior and the other person a loser who feels dominated.

Do this…

A better way to handle conflict in marriage is to look for a plan where…

  • Both spouses get some of what they want.
  • Neither spouse gets everything they want.

Some call this compromise. I prefer to call it a plan. And when it comes to how a couple spends their money, you need a plan.

THE PLAN

Every marriage is different; with different circumstances, different resources, different desires, and different personalities. So it’s impossible, in a brief post, to give you a specific and detailed plan on how to spend your money.

But there are three general principles to help you develop a plan for spending your money. The three principles are:

1. Establish your percentages.

A good start for a spending plan is to aim for these percentages…

  • 10% – Savings. This begins with saving for emergencies but moves on to saving for retirement and saving for personal goals.
  • 10% – Giving. Generosity is its own reward. It not only helps others, but it breaks selfish anxiety within us that keeps us chained to our stuff. You’ll be surprised how generosity does more to increase what you have than decrease what you have.
  • 80% – Living. First, this includes the fixed expenses that you currently have little control over…like: mortgage, rent, utilities, car payments, insurance, etc. Secondly, this includes discretionary spending over which you have more control…like eating out, vacations, entertainment, etc.

Reaching these percentages and goals may not be possible at first, but commit yourselves to do whatever you have to do to move toward these initial targets.

2. Create your proposal.

This is where we need to talk about the dreaded and dirty word “B” word…budget. Many of you winced, flinched, and maybe even threw up in your mouth a little when you read the word “budget.” To you, a budget feels as constricting as living with your parents. I get it. I felt the same way. But exchanging the word “budget” for the word “plan.” A budget is simply a plan that you make to help you get where you want to be.

My wife and I started budgeting, back when we were in grad school. I mentioned in the last post how difficult those years were for us financially. One day, while we were in a mad panic to figure out how we would pay the car insurance, I had a revelation.

I thought, “What’s wrong with me? I know car insurance comes around every six months. This is a simple math problem! I take the amount of the car payment, divide it by six, and that’s the amount of money we have to put away each month to cover the car insurance. So we started with just the car insurance. But the first time the car insurance came due and we weren’t running around in a panic, I thought, “This feels great! I wonder what else we can do this with.” And little by little, item by item, we developed a budget.

Now you don’t have to do this item by item as we did. You can create a complete spending plan all at once. And to help you with this, check out this worksheet I use when counseling couples.

3. Maintain your persistence.

Persistence may be the most important principle of all.

Things will not go smoothly at first. In the beginning…

  • You may not have enough money to fund every budget category.
  • Unexpected and unplanned expenses may come up.
  • There might be expenses you planned but haven’t had enough time to build up the necessary reserves.
  • Some of your categories will have to go unfunded, while you get other things paid off.

There will be times in the first 6-12 months of trying to implement your spending plan that you will feel it’s not working and want to give up. But if you will persist for 12-18 months, you will see things gradually start to come in line. When it comes to implementing your spending plan, persistence is your biggest ally.

We said in the last post that if you disagree on spending…it’s normal. But you still have to do something with it. So…

If you disagree on spending…make a plan and stick with it.

This doesn’t come easy for everyone. It didn’t for my wife and me. But I guarantee you can do it. Follow this basic plan. Seek out others who can help you with this. Take a class. Do whatever you have to not only agree on your spending but to align your spending habits to reach your goals.

If You Disagree on Spending… (Part 1)

They say the three hot topics for marriage are sex, money, and communication. We talked about sex in the last post and we’ll put off communication till a later post. (See what I did there?) So, let’s talk about money.

At one time or another, every marriage will have problems over money, and how to spend it. Those problems usually stem from our money deficiencies and/or spousal differences.

MONEY DEFICIENCIES

More than once in our marriage, we’ve gone into a panic and scrounged for change in the sofa as we tried to figure out how we were going to pay something.

This was especially true when we were in grad school. We had so little money in grad school, our idea of eating out was CiCi’s pizza once every 2 weeks because the kids could eat for free. Our idea of date night was going to McD’s where my wife and I would share a small soft drink and refill it a hundred times while the kids played on the indoor playground.

Struggling over money can put an incredible strain on your marriage. I know! But there are things you can do, and we’ll get to those in the next post.

SPOUSAL DIFFERENCES

Another way money issues can put a strain on a marriage is when spouses have different approaches to money and spending. Our different approaches are fueled by things like…

Different upbringings.

Rarely do husbands and wives have similar upbringings when it comes to money.  One spouse may have been raised in a home where mom and dad felt it was more important to have things and experiences than to stay out of debt. Another spouse may have been raised by parents who were militant about building up savings and staying out of debt. Maybe one spouse never saw their parents fight over money, while the other saw that on a regular basis. How you saw your parents handle money and spending will have an effect on your marriage.

Different personalities.

How spouses approach money also has a lot to do with their personality. Optimistic or pessimistic, impulsive or calculating, extraverted or introverted…theses are personality traits that affect how we see and handle money. And if you haven’t figured it out yet, your personality is probably different than your spouse’s.

Different wants and needs.

If left to my own devices, I would spend as much money as I could on computers, iPads, and photography gear. My wife, on the other hand, would spend as much money as she could on furniture and things to make the house homier. So you can see, it’s unlikely that we’re going to agree on how to spend what discretionary income we might have. (Pray for us!)

Different fears.

All of the above differences tend to foster different fears in spouses. One spouse may fear not being able to give their kids the things they never had as a child, so they want to spend money…even if they have to go in debt to do it. The other spouse may fear not having financial security in times of crisis (or in retirement), so they want to scrimp and save, to build up their reserves…even if it means they do without some things. Our differing fears can be a strong motivation for how we approach money and spending.

Here’s the thing. Whether it’s not enough money or too many differences with your spouse…

If you disagree on spending…it’s normal.

But, even though they’re normal, money and spending issues can put a strain on marriage at best and tear it apart at worst. So, for the sake of our marriage, we have to learn how to handle our money and our spending.

How we do that will be the topic of part 2, next week. See you then.

How Parenting Can Improve Partnering

In my last post (How Partnering Can Improve Parenting,) we looked at how improving your marriage could improve your parenting. It stressed the importance of making sure your partnering takes precedence over your parenting. (If you’ve not read that post, I encourage you to go back and read it.)

Now, we need to answer how parenting can improve partnering, and the answer is simply this…

 “Your parenting should instruct your partnering.” 

Yes, your partnering should take priority over your parenting, but your parenting can teach you to be a better partner. Here’s what I mean by this. If you listed the things you do for your kids, your list would look something like this…

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Counting Pennies

stack of penniesIn some marriages, “counting pennies” means being very frugal and saving every penny you get. But in other marriages, “counting pennies” means turning over sofa cushions to find enough change to get the bills paid.

I looked back over the last year of blog posts and realized I have not written any posts on marriage and money management. Maybe that’s because, unlike other areas of marriage that come fairly easy, money management is an area of marriage that’s never really come natural to me. (My wife is the financial strength in our marriage.)

Don’t get me wrong, we’ve always been able to pay our bills, meet our obligations, and even save some money, but it just doesn’t come as natural as other things.

I remember where we really started to learn about managing money.

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