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Many relationships don’t work due to financial issues. With the cost of basic ammenities going up, it is now more than ever important to work towards keeping finances in control. This is one issue if not handled well could wreak havoc on any relationship.

1. Budgeting – First and foremost step for any couple when talking about finances is making a budget. It helps tremendously as couples can see how much they are spending and how much they can save for future. By not setting a budget, couples throw their hard earned money in the drain and they cannot achieve the goals which they may have set for the future.

2. Needs and Wants – Couples need to discuss their spending habits with each other. There is a difference between needs and wants. One thing that couples can do is to make sure that they are on the same page is that needs come before wants. Couples may agree for a spending allowance for each other without going over the allowance.

3. Set Goals – Another important thing that the couples can do is to set goals. Where would they like their financial situation to be in the next 5 or 10 years. Make a list of priorities and both must work on them to achieve the desired results.

4. Don’t be Driven by Emotion – Spontaneous shopping should be avoided. if you see something that appeals to you, give yourself 24 hours to think if you can justify spending money on the item. If you still want it than go ahead and buy it. 9 out of 10 times you probably will not buy that thing if it’s not important.

5. Be Honest – Do not hide the money from your spouse. Trust is a key factor in any relationship.

6. Bills – Discuss with your partner who pays which bills so that there is no misunderstanding and your your relationship doesn’t turns sour.

7. Accounts – Couples may have joint or individual accounts depending on their preference. Whether you keep joint or seperate accounts doesn’t matter as long as both of you are happy and have agreed that way.