Couples and Money

CTA Presents: Focus on Leadership

Couples and Money

Introduction: Money is often an explosive topic for couples. In fact, 57% of divorced couples say money was the reason for their divorce. But, when viewed from the right perspective, money can be a healthy and strong aspect of a couple’s marriage.

Summary:

  • For couples, talking about money—fighting about money—reveals underlying issues. Nearly 70% of couple report arguing about money.
  • God’s design for marriage was for couples to become one with their spouses. This includes unifying their finances.
  • The average student loan debt is $37K per student. This creates issues for young people wanting to get married. The key is being transparent about assets and debts.
  • Married couples should always have joint accounts. Both husband and wife need to be on every account in order to have complete transparency.
  • There should be no surprises! Couples should battle the debt together!
  • To eliminate debt, use the snowball method. Take the lowest balance debt and pay it off first, regardless of the interest rate. Then, move on to next lowest balance debt. Use the money you were paying toward the first debt and now, put that toward the second debt. Keep going until all debts are paid off.
  • The Marriage Challenge is full of tips and strategies for engaged couples and those who have been married awhile.
    • Explains God’s design for marriage and finances
    • Provides bigger “why” for finances—The Great Commission
  • Church leaders can help couples become one in their finances. One way is to offer financial training as part of premarital counseling.
  • Churches can help couples discover their money personalities:
    • Most likely, each spouse has a difference money personality—that’s a good thing
    • Saver, Spender, Investor, or Ignorer

Thought Starters:

  • What are the most prevalent financial issues you see in marriage counseling? in premarital counseling?
  • What resources are you currently using to teach couples about money? Are they working for you?

Resources: