Getting your spouse on board with a budget

In an age where approximately half of all marriages end in divorce, we have to wonder what's causing all the disagreement. As it turns out, finances are the culprit. Financial problems are the leading cause of divorce. In light of that information, how do you get a spendthrift spouse on board with a budget?

Discuss your financial goals.

If money is the leading cause of divorce, a lack of communication is certainly in the running as another significant cause. When couples get married, excitement often leads to jumping right in to combining incomes and accounts without discussing practical matters like budgets and goals. Even potential disasters are often swept under the rug of newlywed bliss. The honeymoon phase only lasts so long, though. Do you or your spouse have plans to become wealthy? Do you plan to start a family, buy a home or retire by a certain age? All of these things need to be discussed sooner rather than later.

Create a list of expenses and proposed budget.

Some people just need to see things in black and white. Talking about your expenses and how you need to budget money is one thing, but showing it visually is more effective. Start by listing all sources of income and then deducting all monthly expenses, including the amount you want to save each month. Do you have money left over, or are you in the red? Adjust your budget accordingly until every dollar is accounted for, either as an expense or as savings.

Give each person an allowance.

A budget can seem very restrictive to some people. If your spouse or significant other falls into this category, make an allowance, or "blow money" as it's often called, for each person to spend however they'd like. This allowance does not have restrictions, but once it's gone, it's gone. That way, each person has some freedom within the structure of a healthy budget.

Do you have any tips for discussing financial goals with a spouse or significant other? 

Image courtesy of sullivan via morgueFile.