Do you need better money management skills? Many couples cite money as their top reason for arguing. According to Forbes, money is the number one cause of marital strife and divorce.
Money disagreements aren’t easy, and the stress they cause can really take a toll on your marriage. Are money troubles hurting YOUR relationship? With wisdom – and a few practical tips – you can manage your money and improve your marriage.
Let Proverbs 31 be your guide.
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Hymn to a Good Wife
The Message Bible calls Proverbs 31 a “hymn to a good wife.” The idiomatic translation starts like this: “A good woman is hard to find, and worth far more than diamonds. Her husband trusts her without reserve, and never has reason to regret it.”
Other translations describe the Proverbs 31 wife as excellent, virtuous, and capable. To be this kind of wife means, in part, learning how to manage your household finances.
Proverbs 14:1 says the wise woman builds her house, but the foolish woman tears it down. A wife devalues her home when she mishandles money.
How can YOU be a better money manager?
Learn to be content with what you have. Support your husband’s efforts. Tend your career garden, wherever it grows. And make a commitment to change your money habits.
Change Your Money Habits
In A Wife After God’s Own Heart, Elizabeth George said money management requires commitment. Changing your money habits starts with a genuine commitment to:
- praying (about money)
- giving (to God’s purposes)
- saving (for a rainy day)
- budgeting (expenses)
- doing without
- bewaring (of greed and envy)
- growing (in contentment)
Little things make a big difference in money management, said George. In her book, she presents several small but wise steps based on Proverbs 31.
{On a side note, Dave Ramsey has a baby steps plan to help you handle money. I also recommend his book Financial Peace.}
Here are seven ways to manage your money better.
Tips for Better Money Management
1. Honor Your Husband’s Wishes
Women handle money different than men – at least in our home. Study the way your husband manages money. Talk to him about your concerns, and honor his wishes.
Consult your husband before you buy something big. Shopping, spending, and home improvements should never be a surprise to him.
2. Create a Household Budget
In an ideal world, you and your husband plan your budget together. If he’s too busy or not interested, create a budget for the money areas you are responsible for.
This likely means food, clothing, household items, and gifts. Determine a reasonable budget for each category, and record everything you spend. Online budgeting tools can help you keep track of it all.
3. Organize Your Finances
There are two sure ways to help your husband, said George. Keep your checkbook up-to-date and check your bank balance daily.
Organize your bill paying, recording keeping, and paper filing. Stay on top of things so you know where your finances stand and can fix errors right away.
4. Set Up a Financial Center
An office desk is nice to have, but a little table in the kitchen works, too. Keep all your supplies there: pens, pencils, note pads, stapler, paper clips. Don’t forget envelopes, stamps, and folders for your bills and receipts.
Use a file cabinet or file box to store your financial documents. I like this lateral file cabinet from Bush Furniture. It’s simple and stylish, with easy access to all your files.
5. Give to God’s Purposes
Do you give some of your money to the Lord’s work? For the Proverbs 31 wife, giving should come before anything else.
Alice Gray wrote Lists to Live By for Every Married Couple – another great little book. She said tithing and giving are acts that draw couples closer to God and each other.
6. List Your Wants and Needs
As soon as you think of something you want or need, write it down. Then rank your list according to your needs and desires. Share the list with your husband, and use it as a prayer guide.
7. Start a Savings Plan
If you don’t have a plan for saving money, start one now. Talk to your husband about this. A savings plan will inspire you to earn money as well as save it.
Did you know you can make money online with a laptop and Internet connection? This is how I supplement my husband’s income.
Start a part-time job from home, collect your earnings, and watch your savings grow. In time, you will have an emergency fund or extra money to spend on your family.
Now It’s Your Turn
Thank you for reading my post. Now it’s YOUR time to chime in. Who is the money manager in your home? What steps can you take to improve your household finances?
Let’s fill the comments with friendly conversation. Scroll down to leave a reply, ask a question, or just say hello. And if you liked this post, please give it a share.
Blessings, Annette
NOTE – You are reading “How to Manage Your Money Better: 7 Tips for Couples.” A version of this post appeared on Blogger in March 2013. It has been updated for the Savoring Home community.
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