Steps to Make Your Marriage a Successful Merger

"For richer or for poorer…" You say you'll love each other under all circumstances, while firmly believing your union will be prosperous. After all, our marriage will never be strained by money problems, right?

The truth is that money causes more arguments than any other family problem - more than kids, in-laws, and work. Although you're bound to disagree from time to time, arguments can be less severe and occur less often with good communication, planning, and persistence. Consumer Credit Counseling Service of South Texas offers the following tips to make your marriage a successful, prosperous merger:

1. Talk openly about money. It is a good idea to have a frank discussion about your debts and credit histories before the marriage to avoid painful surprises down the road. Communication about finances is essential after the marriage as well, but make a rule never to discuss money when you're angry. Instead, schedule a weekly meeting to go over bills, purchases, etc.

2. Divide money management responsibilities appropriately. It may make sense for one person to pay the bills, but what about reconciling the checkbook and other tasks like tax preparation? Rotating these tasks not only relieves the drudgery, but you'll both know more about the financial state of your marriage.

3. Have a budget. List monthly household expenses and track your spending. Seek advice and tools to help you accomplish this essential, effective money management task. Consumer Credit Counseling Service (CCCS) has some excellent materials and classes to help you succeed.

4. Establish short- and long-term savings goals. Money will need to be saved for annual expenses, but additional dollars should be put aside for mutually agreed upon goals - college funds for children, IRAs, down payment for mortgage, etc. Keep some money liquid in savings, but begin investing right away. Always remember to pay yourself first each month.

5. Use credit sparingly. Keep credit cards to five or less; never charge more than you can repay in three months; comparison shop for loan interest rates; and always send more than the minimum payment each month. Establish separate credit identities in addition to applying jointly. Protect your credit - it will be one your greatest accomplishments as a couple.

Using these tips will make a positive difference to your overall financial well-being and your relationship. However, problems may still occur despite your best efforts. If that happens, seek outside, professional help from Consumer Credit Counseling Service of South Texas. For additional tips, visit www.cccsstx.org or call CCCS at (361) 854-4357.