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How to Deal With a Big Spending Spouse

Image courtesy of Elliot Harmon
Image courtesy of Elliot Harmon
Sometimes there can be problems in a relationship with money. It can be that one partner spends a lot of money and the other ones tries to save as hard as they can and does not save. The one that does not spend money may be trying to save to pay off debts, bills, or save up for something and it can be frustrating when their partner spends a lot of money. It can sometimes be difficult to resolve this sort of situation but there are some things that you could try.

Discuss Financial Goals
It is important to make sure that you have combined financial goals and that you are aware of what each other wants for their financial future. Try to be open minded to each other’s way of thinking but also try to let common sense prevail. It can be fin living for the now and enjoying the money that you have, but if you have a miserable future with no retirement income or no home to live in or large debts then this could mean that it is not worth it. There is likely to be a compromise where you can still spend some money now but also have some left to pay debts or put towards the future.

Set Budgets
It is wise to set budgets. See what money you spend each month on necessities and what is left. Allocate some for spending and the rest towards paying off debt or saving towards the future. You will need to agree between you how much you save towards each and then stick to it. It is important that both partners stick to their side, so one is allowed to spend what they agreed but the other is allowed to put aside what they agreed.

Allocate ‘spending money’
It may be better to allocate spending money for the one who likes to spend money. They will be able to then enjoy themselves with some money and feel that they have some freedom to buy things without feeling guilty. The partner will also know that they are only spending money that was agreed to be allocated to spending rather than spending what they were hoping to save.

Squirrel Money Away
It can be a good idea to squirrel money away where it is not easy to find or get to. This means that a person who enjoys spending will not be able to easily get hold of it and it will be able to be used in the future. This could be done in secret but it is always better to be honest in a relationship of course. You do need to have trust between the two of you.

Ask bank to limit Credit
If you have big problems with borrowing then it can be wise to ask the bank to reduce your credit limit on overdrafts and credit cards. This will make it more difficult to borrow money and therefore to get into debt.



Rachel Henderson is a professional freelance writer from the UK. She writes on many subjects but specialises in personal finance. As well as contributing to various blogs and websites she has her own website tracking her own money making process and sells her books through

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