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Money In Your Pocket Minute: Financial harmony


Last Update: 6/08 4:15 pm
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One of the leading causes of divorces in the United States is financial problems between spouses.

So if you are having financial problems with your spouse, how do you fix it?

The first thing you need to do is create a detailed budget. Over the course of three months, write down every source of income that you have, and keep track of every single penny you spend.

At the end of those three months, sit down with your spouse and look over those three months of income and expenditures. What you’ll likely find is that one spouse is spending more than the other, which is the source of the financial difficulties.

Them have a discussion with your spouse over changing spending habits, and then put together a new budget that the both of you can agree on, and stick to.

Within that budget, it’s important to set aside some “mad money” – money that you and your spouse can spend on whatever you’d like. But whatever amount you set aside for that, make sure you stick to that amount.

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