Getting Money Right in Remarriage

Finances & Remarriage
photo credit: kenteegardin via photopin cc
Finances & Remarriage
photo credit: kenteegardin via photopin cc

Money is often a topic of contention among most married couples and can lead to more arguments than any other issue. In fact, most couples fight about money twice as much as they argue about sex. This makes money an important issue to consider when you are attempting to remarry. If you have already experienced a failed marriage, you most likely understand that money issues can lead to larger fights that can cause a breakdown in the relationship. So if you are looking to avoid arguments related to money in your next marriage, you must take some steps to avoid similar pitfalls. Finances and remarriage are an especially touchy subject and require balancing marriage and money.

Here are some helpful tips related to finances and remarriage that can help you keep the harmony:

Be Upfront and Honest About Your Finances

During a remarriage, it is incredibly important that you are honest about your finances and allow your partner to become aware of your entire financial history. Finances and remarriage can be especially tricky if both parties are not aware of each other’s past financial histories. This doesn’t mean that you have to be open about bills that are already paid, but you must be upfront about current bills or credit issues. Your foundation must be firm and this is only possible if you are upfront from the start. Eventually all of your money issues will arise anyway, so it is better to disclose this information before you have to. You can then work together to correct any money issues that you face, because you will both be aware and accountable.

Combine All Accounts

Some remarried couples often opt for separate accounts and keep their bills separate, but this can often lead to money issues. If everything is kept separate, it is difficult for expenses to come out even on both sides and it can lead to important purchases being made without the consent of the other partner. It is recommended that you put all accounts, investments and important bills in both partner’s names. You can try other systems if those are more effective for your marriage, but you must both feel equally involved and accountable in relation to all money issues. This will create a real partnership that will last.

Get Budgeting Right

Budget issues in regards to finances and remarriage are very similar to the issues that were faced in your first marriage. However, additional expenses like child support make be a difficult expense to budget. It is best to have open communication and really listen when there is an issue dealing with the budgeting of your funds. Marriage and money can be difficult to balance, but if you approach issues with an open mind, you can resolve them quickly.

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