Transcripts

Mike Carruthers:
In a marriage, money is often the biggest source of conflict.

Vivian Cook:
85% of all married couples across the country cannot sit and have a 10 minute conversation about the money issues of their household without it breaking into a fight.

Men have a tendancy to first, in terms of priority, want to spend money on making the house payment, or paying the rent. Then they want to spend money on cars, boats, tools and things that relate to vacations, recreation and fun.

The first money priority for women, on the other hand, is spending it on other members of the household.

Then it is that they want to spend money on furnishings, decorations and other accessories for the household. And then women are off to spend money on clothes and shoes.

When there's conflict about money, the tendancy says Steven, is for one person to try and convert the other. Which never works.

But if you merge the 2 lists together you end up with a house that's paid for, that's well decorated...it merges together quite well. It comes with making trade- offs. If you want a new boat and can't afford it maybe trimming the wife's budget for clothes isn't the right way to approach it. But what you need to do is talk it through. With communication we can find many answers and usually we can find consensus.

For transcripts and our free online newsletter, visit our website, somethingyoushouldknow.net. I’m Mike Carruthers and that’s Something You Should Know.