Julie and Jim have constantly fought over money during their first two years of marriage. Julie is working on a master's degree, which leaves Jim at home more often with their one-year-old. What steps can they take to resolve this money conflict going forward?
To avoid fighting over money, Julie and Jim first must come to an understanding that just because they have different money values or expectations doesn't mean that one is right and the other is wrong. With that understanding, they should:
• Recognize the value of unpaid work. The fact that Julie is finishing school while Jim is taking care of their child means they both are making an important contribution to the family and its future.
• Go over their finances together so that they have a firm basis in reality for what they can and can't afford.
• Talk about the financial goals they hope to attain in five years.
• Set aside money for each of them to spend without asking or answering to the other. Even a small amount can make each of them feel more independent.
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