Not Easy At All
Posted by limpetfan | Posted in Marriage, life, money, relationships | Posted on 28-01-2010-05-2008
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If you look around the internet, or in magazines, or at news programs on TV, you will probably be hard-pressed to find anyplace that doesn’t list money as a top reason for divorce in the United States.
If you think about this a little bit, it’s not particularly shocking.
Let’s say a young couple (or even a not-so-young couple) gets married. Everything is fabulous, and they decide they want to have a family, complete with a white picket fence and a neighborhood ice cream truck. So they buy a house. Then they have a kid. Or two, or three. The kids need STUFF. The house needs STUFF. Maybe now they need a new car. And the couple themselves occasionally need stuff, too. All these early marriage “stuff” acquisitions means the couple needs money… and may also mean the couple has to go into debt. If the two people that make up this couple view and handle money differently, there’s a good chance there’s going to be friction, and over time, that it will be a major problem.
Like I said, it’s not shocking that money issues often = divorce.
As a soon-to-be-married person, this type of statistic freaks me out. I certainly don’t want my marriage to be felled by money. Money is, to a certain extent (you know, barring prolonged illness, alien invasion, and job loss), something that can be controlled. So for Alex and I, I figured we could avoid problems if we talked early and often about how we are going to handle our finances as a married couple.
Turns out, I’m kinda dumb for thinking it’s that easy. Because, when it comes to relationships and money, it’s not easy at all.
For Alex and I, we decided to split joint expenses – things like rent and electricity – according to the disparity in our incomes, but we keep our money separate so we can easily pay our pre-relationship obligations. This was my idea, and I had read about this method of handling money in relationships in The Money Book for the Young, Fabulous & Broke by Suze Orman. For example (and I’m making these numbers up):
He makes $40,000/year
I make $30,000/year
This means he makes 0.57 more than I do (40,000/70,000). So if our rent is $1200 a month, he pays 0.57 x $1200, or $684, while I pay $516.
This is supposed to ensure that one person isn’t paying so much that all their income is gone every month, while the other person has tons to spare. It has worked pretty well for us thus far. The problem we are running into now is that this formula really isn’t going to work very well if we intend to buy a house, or have kids (which we do). The person with more income is going to have to use a lot of that ‘more’ if we want a house that isn’t a shack.
Now, it isn’t that being able to afford these things is a problem. They are do-able, achievable goals. It’s the concept that all of a sudden it’s going to be pretty uneven financially, when viewed individually. One of us is going to be paying a lot more, but we’re receiving equal benefits. And for both of us, it’s the first time in either of our lives where our financial stability will be tied to someone else’s financial stability. It’s the first time I can’t afford something basic, like housing, without the help of someone else in my adult life. Our fates will be officially linked. It’s like there’s less individuality there, somehow. For two people who have been very independent and individual their entire lives, it’s a terrifying concept.
This makes me suspect that disagreements on this topic, not just with Alex and I, but with most couples, are not just about money. This is stressful, emotional stuff because something important isn’t under your solitary control anymore. Or maybe it’s an under-discussed fear about marriage in general, a fear about losing independence, and this is where it manifests. Whatever the reason, the idea that it is not just MY money anymore is the hardest pill I’ve ever had to swallow. I’ve worked hard to have a clean financial name, and it bothers the heck out of me that it won’t just be mine anymore. I’ve never been particularly good at sharing.
I think that maybe this is why so many couples have trouble when it comes to money. Money is power and control, and you can’t have much of a life without it. Lucky for me, Alex and I do talk about money and the future a lot. I suspect we will figure it all out intelligently and be fine. Many people have trouble talking about this topic, though, so if anyone else is willing to share their thoughts and experiences, please do!
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