Money can be a big challenge for relationships, especially for couples on a budget with limited income or a lot of debt. Overwhelming debt, lack of communication, and financial secrets can lead to arguments, guilt, finger-pointing, and resentment. Here are the steps to help.
Understanding what a budget is, what it can do, and how to build one together can help couples address problems in a healthy, positive way as they work toward mutual financial goals.
A budget is simply a roadmap for dividing household income into expenses (including mortgage, groceries, and discretionary spending). Building a budget together means agreeing on the roadmap and helping each other stick to it.