Money is such an important tool. When you don’t have it, the effects are devastating. People wake up every morning and work hard in order to provide money and financial security for their families. This is why it’s considerably upsetting when you have a spouse who is careless or slippery with money. While it is a difficult journey, it’s not impossible to regain financial security. Consider these four ways to make that happen.
Maintain a Budget
Sit down to create a budget with your spouse. Take a look at the bills together. Make sure you both have an understanding of how the finances need to be in order to rebuild. When both of you are able to sit down for financial planning meetings, there’s clarity and transparency regarding the family finances.
Keep Money in Different Accounts
When you’re able to make money difficult to access, it’s harder to make bad decisions. This is why it’s wise to put money in savings accounts that aren’t connected to a debit card. Furthermore, make sure these banks are online banks. When you do this, your spouse will have to wait a few days in order to access certain funds. By that time, the desire for the money will hopefully wear off. When you make the money inconvenient to reach, you’ll increase the chances of financial protection.
Get Accountability and Assistance
Emotions can run high and things can get pretty tense when you’re dealing with finances. When you have a spouse that’s being completely reckless with the finances, it’s time to include accountability and outside mediation. It’s wise to see a therapist on a regular basis because money holds the power to ruin many marriages. You’ll want to be diligent in that area. However, you’ll also want to be responsible and practical. If the spouse’s behavior becomes criminal, you may consider getting a criminal defense attorney involved.
Work with Cash
When a person uses a debit card, it’s really easy to swipe without feeling the loss. When you operate with cash, you have to physically count out the money and hand it over to the cashier. This sparks a memorable feeling that helps a person understand and value money in a different way. If you know that your spouse is struggling with financial accountability, it’s best to operate with cash only. Create a budget for the cash. Once it is spent, it’s gone. Knowing this, your spouse might spend wisely next time.
As you move forward in this effort, always remember that you and your spouse are on the same team. Do your best to operate from that mindset. Maintain a transparent dialogue with your spouse when it pertains to money. If you two work together, the financial woes can become a mere memory of the past.
