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It turns out it doesn't matter who wears the pants in a family; the power is in who controls the purse. Tomorrow on Momversation, the panelists discuss who controls the checkbook and how it affects their relationship... for the good and the bad. With that in mind, here are a few pointers on how to manage your family's money without the arguments.
1. Talk it out. There are lots of different ways to look at money. Just because you like to save for a rainy day doesn't mean your husband is automatically stocking away his pennies. Discuss your views on money so there are fewer surprises, and be willing to see things from another perspective.
2. Share the wealth. In order to function like a unit, you have to work as one unit. Agree on monetary goals, such as the age of retirement, and plan with those goals in mind.
3. Focus on the strenths, not the weaknesses. So, you think your husband is too frugal. Instead of lamenting, use his abilities for long-term planning while you take care of leisure spending, keeping the lines of communication open.
4. Stop blaming. It's easy to blame; it's less easy to plan a course of action. Work as a team to fix monetary mistakes. After all, no one is perfect, and your spouse will be more likely to not sweep money problems under the carpet if you don't wag your finger.
5. Don't bring other problems into the mix. Try to determine what your disagreement is really about. Sometimes, money is easier to argue about rather than other relationship issues. If money is truly the subject, then make sure you don't drag other problems into the discussion.
What are your tips to make managing money easier?
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