Financial Commitments In Marriage

What is the first financial commitment in marriage?

David Marotta: The first financial commitment in marriage is open accounting. So it’s keeping a budget, it’s knowing where you’re money went. Most couples who fight don’t fight over where they should spend their money. They actually fight over where they did spend their money. And so constantly there’s bickering back and forth about will we use spent money here, well that’s was within the budget. Well how do we know because they don’t really know where their finances have gone?

So if you keep open accounting then you can start making the decisions of this area is too much and you can actually start working together and again no partner can look at their spouse and not say there are previous purchases. So again we recommend having a category for previous purchases for the husband and for the wife and so long as they keep it within a half percent of their budget it’s perfectly okay.


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