Money and Marriage: The Guide to Managing Money as a Couple
February 26, 2021 | Louis Tully
The connection between money and marriage longevity cannot be ignored. According to studies, impoverished people are less likely to tie the knot than people with a little cash in their stash. Plus, people with some extra money tend to get divorced much less often. That means it's time to master money and marriage in your life.
Why Money and Marriage Both Need Management
Marriage is a contract between two compatible people who are in love. However, money problems can lead to bickering and breakups, so it's important to manage both carefully. Neither one should be neglected in favor of the other. Money and marriage are both equally vital factors in a happy life.
When a couple faces financial strain, their chances of fighting and leaving the relationship to increase significantly. That's because poverty can kill passion and make people forget about what's really important. Thus, learning how to manage money as a couple is the key to a long, fruitful marriage.
10 Tips to Help You Use Marital Money Wisely
Since your marital vows initiated this lifelong partnership, it's crucial that you both learn how to handle money responsibly. So, use these tips to help guide your steps in the coming years:
- Try to bank more money than you spend each month.
- Always put surplus cash into a savings account that's accessible to both spouses.
- Keep detailed records of all incoming and outgoing funds.
- Refrain from taking out the loans that can damage your credit report.
- Choose financial options that allow you to make small payments (installments) over time.
- Look for ways to invest your extra money and watch it grow.
- Use some of your marital funds to spoil each other from time to time.
- Never use cash as a bargaining chip or a reason to fight.
- Be transparent about your financial behaviors to prevent deception.
- Pay off your largest debts first.
Each couple will have their own unique challenges to face, so adjust the rules as they suit your family.
How to Manage Money as a Couple
No relationship is perfect and bank accounts can fluctuate. Still, money and marriage go hand-in-hand. So, manage your funds with these four simple tips.
1. Keep Your Unnecessary Spending at Bay.
It's tough to stay out of debt and save money when you spend it the first chance you get. Both spouses can be guilty of shopping too much, but neither spouse should endure the hardships that follow. Instead, spend your marital money wisely and enjoy more financial security as a result.
2. Communicate Your Intentions with All Marital Money.
While sweet surprises might be nice from time to time, most of your spending needs to be filtered through the marital lens. That means putting a reasonable cap on how much cash can be withdrawn without the other person knowing.
3. Make Major Spending Decisions Together.
If you want to make major purchases while balancing money and marriage, here's the deal: you shouldn't buy anything big without your partner's endorsement. For instance, don't apply for credit cards or title loans in Delaware (or any other state) unless you've discussed it with your spouse first.
4. Trade Clean Titles for Loans Instead of Using Your Credit.
Money and marriage equal monitoring your family credit score despite upheavals. So, many couples use a title loan to make ends meet. Title loans in Delaware, for example, provide borrowers with as much as $15,000 on the spot. Plus, the title loans in Delaware (and elsewhere) also require no proof of income, no tax forms to qualify, and welcome any credit score, including bad or non-existent.
How Does It Work?
Delaware Title Loans, Inc. offers a simplified application process that gets your answers within minutes. To get car title loans in Delaware, here’s what you need to do:
- Fill out the form online to get started.
- A loan specialist will call you back immediately to discuss the process, answer your questions, and give instructions on what to do next.
- Next, you will head over to the nearest Delaware Title Loans store location where a verification agent will inspect your car, review your papers, and determine the amount you qualify for. Here’s a list of documents you’ll need to bring with you
- A government-issued driver’s license or photo ID
- A hard copy of a lien-free vehicle title
- The vehicle for inspection
Usually, borrowers can complete the entire process within just 30 minutes. The amount of money you qualify for is based on the condition of your vehicle and the fair market value thereof. So, talk to someone at Delaware Title Loans, Inc. to discuss the possibilities.
This funding option makes it possible for both spouses to have a say in the marital bank account without requiring either party to risk their perfect credit score. Plus, it’s a frugal choice for when the unexpected happens or when someone in the family loses their job.
Get a Title Loan in Delaware Today
You can enjoy a long, happy marriage and a large, healthy bank account at the same time by practicing responsible financial behaviors and keeping the lines of communication wide open.
And if you ever need urgent cash for your marital emergency expenses, Delaware Title Loans, Inc. is always there to help you and your spouse by providing quick and easy cash solutions.