Money News

Good Housekeeping (Philippines) - - News -

Money prob­lems re­main the lead­ing cause of stress in a

Mar­riage. In a 2015 study con­ducted by Amer­i­can bank hold­ing com­pany Suntrust Bank, around 35% of re­spon­dents said that money was the pri­mary cause of fric­tion in their mar­riage. Ar­gu­ing about money early in the re­la­tion­ship—re­gard­less of the in­come, credit stand­ing, or net worth of the cou­ple—is also a top pre­dic­tor of di­vorce, re­vealed Sonya Britt, a Kansas State Univer­sity re­searcher, in a study she pub­lished in 2012.

How­ever, reg­is­tered fi­nan­cial plan­ner Rien­zie P. Bi­olena, pres­i­dent and CEO of fi­nan­cial plan­ning and wealth man­age­ment con­sul­tancy firm Wealth Arki and Con­sul­tancy, Inc., says that con­stant com­mu­ni­ca­tion can ease the mar­i­tal stress of­ten caused by fi­nan­cial woes. “Cou­ples should re­ally take the time to sit down and dis­cuss their fi­nances. Talk about how much money you re­ally need in or­der to live com­fort­ably,” says Bi­olena.

He adds that cou­ples some­times for­get to treat each other like part­ners when it comes to han­dling money, of­ten blam­ing each other when the house­hold runs short on cash. “It should be a part­ner­ship. Ev­ery cou­ple will have a dif­fer­ent dy­namic when it comes to han­dling money, but the cou­ple should know what their strengths are when it comes to fi­nances,” ex­plains Bi­olena.

Case in point: Bi­olena han­dles the fi­nan­cial plan­ning when it comes to sav­ings and in­vest­ment while his wife han­dles the bud­get man­age­ment for their house­hold, be­cause those are their in­di­vid­ual strengths. “One per­son can’t pos­si­bly do ev­ery­thing,” says Bi­olena, adding that mar­i­tal stress and mis­trust usu­ally worsen when one chooses to solve fi­nan­cial prob­lems on his or her own, with­out seek­ing the help of or even with­hold­ing in­for­ma­tion from his or her part­ner.

As with other ar­eas of your mar­riage, com­mu­ni­ca­tion is key when it comes to fi­nances.

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