One of the most common reasons couples fight is over money. If you and your partner have different values regarding money and different spending habits it is only a matter of time before your ideas clash and an argument ensues. So how can you avoid any money related fights in the future? Below are some tips:

Finding Middle Ground

If you and your partner have different spending habits, then it’s going to help you get on the same page when it comes to your finances. However, if one of you is the spender and one of you is the saver, then you can expect problems. You don’t have to change your ways entirely but rather try to see your finances from the other perspective and work on coming to a middle ground.

Work Towards the Same Goals

Having a list of different things you want can help you get to the same goal and work as a team. Even if you do not make an income, you can help by reducing your spending load. Make a list of the different things that you want in the near and distant future and keep these goals in mind every day.

Balance Play and Save

All save and no play makes you a dull mummy! So decide on a certain amount of income that will go towards ‘play’, whether this is used to go out for dinner, to get ice cream, to see a movie or to go on holiday. 5 to 10 percent of your income is a good number to play with.

Understand Your Core Values

Another reason why you and your partner may argue about money is because you don’t understand the values behind your spending and saving habits. Values are things that matter to you, such as freedom, friendship, family and love. Talk about your core values and what each of these things means to you. By doing this you may have a better understanding of your money habits and what is driving their financial behaviour. For example, your husband may be an extreme saver but why is this? What is driving his frugalness? It could be because he is saving for the kid’s future or it could be because this is how he was brought up. Try to understand where he is coming from to help you see his point of view.

Make a Wish List

It is okay to dream. Share your wish list with your family and work together to reach these goals. Ask your kids to also create a realistic wish list.

Think on a Small Scale

Are you finding that you are running out of funds by the end of the month or that you are not able to put anything away after paying all the bills? This is a common problem in families and often it is best to tackle the issue by pulling the problem apart. Let’s say, for example, that you want to save an extra $1000 this year to put towards an emergency account. Break this down $1000 a year is $120 per month or just $2.75 each day. Aim at saving $2.75 per day and you will be surprised at how easy it can be.

Visualise

Many people need a visual reminder of their progress. If hoarding your money in a bank account isn’t working for you, then invest in something else. For example, having a jar hidden in your bedroom where you can add money every day can help you stay on track. You won’t be accumulating interest but sometimes a visual reminder can give you the incentive you need to save, not spend.