Financial marriage counseling is often a first step in repairing a financially broken marriage. If you feel that your marriage has become too financial, or your husband seems less concerned with his own finances than before, your financial counseling may be a wise next step. A financial marriage counseling adviser can help both of you get out from under debt and make a plan for saving money. They can also help you understand how your partner truly earns income and how you can increase your own income as well. Financial research shows that, of three thousand survey participants, almost 70% said they would prefer to keep the total amount of money they earn, rather than reveal how much they actually spend.
Some of the common conflicts experienced in married couples center around spending and saving. Many couples are willing to set aside time to discuss their finances; however, most couples do not want to put the time in to discuss their financial situation. Financial issues are often one of the first causes of fights in a marriage. Therefore, financial marriage counseling can be extremely helpful to couples who want to save money for their future.
Another common issue married couples face is miscellaneous spending. While it is important to have a savings account and separate funds for day-to-day expenses, couples tend to overspend when it comes to entertainment and shopping. In order to avoid getting into such situations, financial marriage counseling can help couples establish realistic spending expectations. This type of counseling also teaches couples how to manage their bank accounts and determine what they can and cannot afford. During this type of counseling, it is vitally important that both parties cooperate, as most problems are caused by a single party.
One common problem associated with overspending is debt. Most of us have multiple credit cards and loans, which are responsible for many financial issues in our lives. When these debts increase, it may lead to financial strain and marital difficulties. One way to resolve financial issues is to consult a financial counselor at a fee. Financial marriage counseling can help you eliminate debt, improve your credit rating, and teach you how to control your finances.
If you have several debts that you feel are too much for you to pay on your own, you may consider hiring a financial marriage counselor to help you with this issue. During this type of counseling session, your spouse will share some of their personal debt information with you. The goal of this type of session is two-fold: To teach you how to manage your debts so that your spouse does not take out more than they can afford, and to help your spouse develop an action plan to reduce their current level of debt. Your financial marriage counselor may suggest several ways to eliminate or reduce debt, including negotiations with creditors and interest rates on existing balances, refinancing loans, or selling assets. The goal of this session is to create a plan that will allow you to both manage your debts effectively so that you do not end up in financial turmoil again.
Some couples find financial marriage counseling to be a very effective solution for their problems. The most effective sessions allow the partners to honestly discuss how they both spend money, what habits create stress and drain their resources, and how to change those habits to reduce stress and increase savings. Through careful observation, couples who undergo this type of counseling experience great improvement in their overall relationship and in how they spend money. In addition, financial marriage counseling often teaches couples ways to prevent future marriage problems and the cost of divorce. It is important to note that this type of counseling is usually provided by an outside agency and is not a substitute for the services of a licensed counselor.