Money Management for couples

**Jenita** Tue Apr 17, 2007 6:31 am

Money Management for couples
Regardless of how much or how little people have, money management is the most common cause of dissension in relationships. While each couple is unique, most arguments about financial matters start with either lack of organization or lack of communication. Both of these are behavior issues, and behavior can be changed.

Following are some tips for peaceful money management:

Get Organized.
Create systems that work for both people. Choose one place for checkbooks, receipts, and other information regarding financial transactions. Use a file marked "Payables" for credit card statements, monthly mortgage, car, and insurance payment booklets, utility bills, etc, which should all be kept together until they have been paid.

Put details in writing.
Many people carry their financial information around with them in their head – the monthly direct debit for the health club membership, the month they renew their auto insurance, the day they promised to pitch in for Aunt Martha's new sofa-bed. While the ability to remember facts and figures is impressive, all that information takes up prime real estate in your mind. Did you know Albert Einstein could not recite his telephone number from memory? He saved the space for new ideas. Getting all those details out of your head and onto paper will help you feel more peaceful while making the data more accessible to your partner.