Money Matters: How should couples handle personal budgets?

Published: Aug. 2, 2022 at 12:48 PM EDT|Updated: Aug. 2, 2022 at 12:51 PM EDT
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COLUMBIA, S.C. (WIS) - How should married couples handle their personal budgets?

We talked to Josh Bradley from Capital City Financial who says this subject is tough because money is one of the leading reasons for marital issues. For that reason, it’s something you should talk about early and often.

Couples may be on the same page for some issues, but different people have different views on money. This means you can’t assume that your partner thinks the way that you do.

There is no perfect way to make joint budget decisions. The key is to spend a lot of time together, talk about your values, set aside your main goals and work out a budget together.

Make sure you focus on the big things but allow each other some room for small things.

Communication is the key. If you can get ahead of issues and identify your budget, spending goals, debt goals and savings goals, that is beneficial. You should also be re-evaluating those goals periodically.

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