by Jeremy Reis, Staff Writer

Resolving Conflicts Before They Begin

As you start your new life together, your finances might be a topic you haven't given much thought or planning. Sure, you've discussed your goals for your life together, shared deep and intimate experiences, but have you sat down to develop a budget? Experts say 90% of arguments in marriage are related to money and finances. Wouldn't it be nice to reduce 90% of the possible arguments in your new married life?

Budgeting For Freedom

The first step to financial freedom and unity in your marriage lies in developing a budge together. A budget is simply a guideline as well as a record for your spending. It needs to be realistic, flexible, and most importantly, a plan that both you and your spouse can live with. Communication here is essential. It is important, however, that both partners understand where the money is going and are accountable and responsible to one another.

How do we create a budget? Begin by writing down your expenses throughout the month. You may need to keep track of two or three months beforehand to have an accurate estimation of your spending. Divide the budget into two main categories: essential expenses and discretionary expenses.

The Essentials

Essential expenses are those things that are a fixed amount from month to month, or that you don't truly have control over (for the most part. For example, you can choose to spend more or less on groceries, but either way, you have to eat.) These expenses are items such as rent, car payments, utility, groceries, phone, cable, gifts to church or charity, etc.