We all want a loving and healthy marriage. When marriages are unhealthy, they can be unhealthy in many ways. One of the most common ways a marriage can be unhealthy is financially. As we seek to have financial peace and journey towards financial freedom, we have to make sure to keep our marriages in mind. It is so important through your journey and once you achieve your goal, that you also focus on the strength and health of your marriage. There are five keys to having a financially healthy marriage.
1) You Both Agree And Believe In Stewardship
God blesses us with all we have, including our marriages and our money. So it is important to not only remember that, but to treat them as such. When you take his and mine out of your finances, you then can focus on managing what God has blessed you both with together. You also can remove the weight and the pressure you may have placed on yourself regarding your finances and while working together to steward your blessings.
2) Complete Transparency
Keeping secrets in your marriage about your finances is never okay. In order for you to work together to not only steward your finances, but to reach your goal of financial freedom you have to be transparent when it comes to your finances. One of the most common reasons I have found that many married couples are not completely transparent in regards to their finances is because they are scared of what their spouse might say when they find out the truth. Yet like 1 John 4:18 says ‘There is no fear in love.’ We should trust our husbands with the truth about our debt, spending, savings, or whatever. You cannot work together on something that you are both not aware is there.
3) You Have Agreed Upon Budget
Having a budget allows you to make sure you are covering all your needs and see how many of your wants you can be covered as well. For a lot of people, having a budget can feel restrictive, yet I believe that this is far from the truth. It gives you the freedom to work within your own preset financial boundaries, while also working towards your financial freedom.
4) You Set Financial Goals Together
Setting financial goals together is so important because it helps to ensure you are working towards the same things together. One of your goals for this year may be to save up for a new washer and dryer because the one you have is just not cutting it anymore. One of your husband’s goals for this year may be to save up for a new snowblower because he is getting tired of shoveling the entire driveway by hand. Yet, what happens when you finally save up enough money, but you never talked to each other about your goals and you can only get one? Or what happens when one of you believes you should be focused on paying down your student loans, while the other thinks you should pay off your car loan first. By setting your financial goals together, you can both agree on what your goals are and how you are going to work towards them.
Along our journeys to financial freedom, we will all make a mistake along the way. You will spend more than you budgeted on groceries one month. Your husband will forget to tell you he used his debit card last week for lunch. The list can go on and on. There has been many days when Eric will send me a text saying our bank just sent him a message about our account being overdrawn. This is usually a result of me forgetting to transfer enough money into our checking to cover something. Yet instead of him getting upset with me or me upset with myself, I reply “Sorry babe, I’ll go fix it now 😘” and I go online to see where the mess up occurred. We must always remember that we are only human and to give each other grace. You are both on the same team working towards the same goals.
Through your journey to financial freedom and once you achieve it, it is important to also focus on the strength and health of your marriage. These five keys will not only help you to have a financially healthy marriage, but also maintain it.
I’d love to hear if there are any keys you would add to having a financially healthy marriage in the comments!