Secrets of Overcoming Family Financial Crisis

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The money issue ranks top in the list of reasons for the contention between husband and wife. In fact, one study found that 80 percent of couples who divorced at age 30 said money problems were the main cause of divorce.

Another study found that couples whose women took an active role in family finances were more likely to be happy. Couples who solve their money management problems seem more likely to find mutual agreements regarding spending, savings and financial planning.
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Disagreements about money occur in families at all income levels, so lack of income is not the only or the main cause of disputes. Indeed, having more money can make it harder to set and ensure spending limits.

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Often quarrels about money come from different expectations. One might believe that like saving and frugality is the only way to feel financially secure, while a partner might feel spending money to have the things they need is the most effective way to prepare for the future.

The best way to reach mutual agreement is to communicate and compromise. Without these two elements, arguments about money can quickly undermine trust in marriage. The following suggestions will help prevent finances from being stuck in your relationship with your partner.

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Don't just focus on the amount

Financial problems are usually a symptom of other problems. Look at the initial causes in order to solve future problems. Many people mistakenly assume that if they can make more money, their financial problems will disappear. However, in most cases, bad financial management will only get worse with more money instead of disappearing.

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