Tips on how couples can work together on money matters

Money can often be an underlying reason why couples aren’t happy.

Denying that you have a money problem or wishing the problem would go away, won’t fix the financial difficulty or the relationship disconnect, said Suze Orman, financial planner.

“If you know there’s a problem now, it’s only going to become a bigger problem later on if you don’t address it,” Orman said in the article, “Don’t Let Money Woes Sink Your Relationship.”

Orman has recommendations on what should be “ours, mine, and yours.”

First, what’s ours:

• A joint checking account and joint credit card from which all living expenses are paid.

• A joint savings account in which the couple builds up a fund equal to eight months of living expenses.

• Combined long-term investments for retirement.

Next, what’s mine and yours:

• A savings account in your own name.

• A separate checking account for personal indulgences.

• A credit card in your name.

Orman believes using this system and discussing your differences about finances will strengthen your relationship.

If you’re unable to work out your financial difficulties, find a competent therapist and skilled financial planner to help you.