Thursday, April 02, 2009

Debt and Marriage Don’t Go Together Like a Horse and Carriage

posted by Michele Olson

Married? Do you have debt?

According to a recent NY Times article, debt is a leading cause of family strife during the first few years of marriage.

Have you heard -we’re in the worst economy since the Great Depression? How did such a hard time in history get the name "great?" Depressing Depression would make more sense. Wait..back to the point!

The article has some helpful tips, encouraging couples to formulate a “debt philosophy.”
A sample philosophy is stated in the article. It involves things like agreeing on whether you will pay cash for everything or have a certain amount on the credit card each month. How big a balance do you agree to carry?

Questions are brought up about where debt and savings rank among the priority list of what’s important.

Much to the article is adapted from “Financially Ever After: The Couple’s Guide to Managing Money,” by Jeff D. Opdyke. Copyright 2009 by Jeff D. Opdyke.

All this comes down to TALKING about money. That brings us to good communication and conflict resolution skills, so your talks are healthy and productive. Those skills can be learned by taking a marriage education workshop through

Tell us your story.

Do you talk about money in your marriage? How have you handled your approach to debt as a couple?
Read the complete NY Times article.


foleybf said...

I totally think that having open conversations about money is an extremely important part of having a healthy marraige. My husband sometimes gets mad and say I bring it up too much, but as newlyweds its important to figure eachother out. After years of taking care of myself financially, it is important to know how your parner feels about money. Communication is key no matter what aspect of your marraige you are talking about.

Jen said...

So true Jen!
If we can talk in the midst of a relationship and both feel heard on all issues...what can't be accomplished in a marriage!
Unfortunately, it's a skill set we aren't born with, and many times needs to be learned. We can all, always improve. Marriage education workshops is a great way to acquire that skill set that will serve you well in marriage and life. Appreciate your comments...Keep blogging!