How to Deal with the Financial Crisis in a Marriage

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Facing financial issues in your marriage?

Financial crisis always brings a tricky situation in a relationship/marriage. One’s financial dissatisfaction can lead to conflict in marriage.

You may say that most of the marriages ruin because of monetary issues that prolong for a long time. So, it is crucial that a couple must know how to manage their finances together.

husband and wife together during financial crisis

We all know that marriage is a life long commitment where two individual promise each other to support in every situation of life. It is an emotional, physical, mental, and economic relationship.

“People say money isn’t everything. It can’t buy you every happiness.”

So true.

But the fact is money is significant in today’s world. For everything that you want or desire in your life can be achieved through money.

So, if you see someone is saying ‘money is important and it brings happiness,’ you will say ‘Indeed it is.’

If your financial status is satisfactory, it will bring balance to your marriage.

“At the beginning of my marital life, we also had faced some serious financial crisis. We were young, didn’t take life seriously and spent too much money on shopping and traveling without evaluating our money.

Yes, it did give a little jolt to my marriage, but we survived it smoothly.”

I know, you may be thinking about how? This post is exactly about that.

If you are that couple whose marriage is struggling through financial issues and it is affecting your peaceful life.

Don’t leave the page, please go through the article I am sure it will help you in figuring out the issues and resolutions.

I am going to give you solutions/ways on how can you deal with the money problem in marriage.

How to Deal with Financial Crisis in a Marriage

Don’t Panic When You are facing a Financial Crisis

Job loss, fraud, getting fired, legal issues, business collapse, it could be anything that could lead you to the financial crisis.

Getting panic and nervous is a natural state of mind in this circumstance.

But how will think of the solution if you are frightened?

So, the first thing you need to do is to stop getting scared and anxious about your current financial condition.

Accept the fact that you have money issues and start dealing with them positively and bravely.

Communicate with your partner

I always put emphasis on the importance of ‘communication’ in a relationship/marriage.

In fact, several books, research papers have been written on the same that discusses why and how communicating with your partner is crucial in maintaining a healthy relationship.

You can read a short article on the benefits of effective communication posted by a popular website Lifehack that I often follow in my leisure time.

Couples need to talk freely about their money problems. If you don’t speak or share with your partner and keep it all to yourself,, then it will give rise to stress in every stage of the family life.

Discussing your issues actually solve half of the problem.

Many questions may pop up in your head regarding a monetary issue like “what will I do now? How will I solve the issue? How will I pay the bills? How will I manage the monthly expenses?”

I always tell my readers when they ask me questions about ‘relationship’ that “learn to communicate everything with your spouse and keep the trust always.”

Talk to her/him about how and what steps you should take together to deal with your finances.

There are possibilities of conflict between the two. Still, it is important to know each other’s financial background and present financial status.

Don’t Blame Each Other

Imagine your husband is running a business for which he has taken a loan from the bank, but luck didn’t favor you, and the business collapsed.

What will you do as a wife? Will you blame for the loss to your husband?

Many blame their partner for their financial crisis. But it is wrong to do that. This act of yours will only push away your spouse from you.

Establish an understanding between the two of you and be calm without creating chaos by blaming each other.


Prioritize your monthly budget

Prioritizing your monthly budget is important. Set a goal for your monthly budget. Ask yourself ‘which is important to buy this month?’

Avoid spending excess on unnecessary things.

But you can’t take these decisions alone. As a couple, you have to make decisions mutually.

You may not agree with your partner sometimes.

For example, Your spouse wants to buy a trimmer this month, which is essential for him but you think it’s not that important, it can wait till next month. There you both have different choices. But this is where you need to make decisions as ‘together.’

Evaluate how much important this item is now? Can it wait? If not, then consider it adding to this month’s list.

Creating a spending plan helps a lot in determining how much money you are going to spend this month on family/personal requirements.

I can suggest a simple way that can help you:

Every 1st of the month take a diary, make a column, and set a monthly budget listing goal.

In the list, write down the things that are needed for this month to buy. Make another column and make a separate budget for other things like a budget for shopping, education, entertainment, travel, etc.

In this way, you will be able to keep a check on how much you are spending.

Monthly budget

Avoid Taking Loans

You must have known by now that loans are a big headache. These days you can take a loan for everything. But the majority go with the education loan, house loan, car loan, and personal loan.

Try to avoid loans. It creates stress and mental pressure on any person.

If you have a major investment to do, work out a plan by discussing with your spouse. Living a debt-free life is not only healthy but also stress-free.

Think of a New Way of Earning

When you are going through a phase of the financial crisis in your life. You can ask your spouse to start working or together can think of a new way of earning.

If you or your spouse is good at craft or any other vocational skill, you can think of turning that into your secondary income.

There are so many things that one can pursue to earn.

If you have sound knowledge/degree in English literature/language, you can start tutoring and earn money.

If you are good at writing, you can start content writing work from home itself and support your family.

In this way, both husband and wife can earn and support each other financially in times of crisis.

This will also increase the mutual trust and love between the two married individuals.


Keep an Emergency Fund

You should always build an emergency fund, which will provide you with aid in times of money crunch.

You can create an emergency fund by opening a savings account or fixed deposit account. It will give your family the much-needed financial security and protect your family from the wreckage that the money causes.

So, start saving little amount as much as you can from the beginning of your marriage.

Make sure each month a portion of your earning will go in your ‘emergency fund.’ You mustn’t compromise with that.

Emergency fund for Financial crisis

My husband and I have made an emergency fund, which is our savings account. We make sure that it has sufficient amount which can help us in times of a crisis or a money problem.

Tracking Monthly Budget

I have mentioned above already about the ‘prioritizing of your monthly budget.’ But making a budget is not enough when you make a budget, you have to make sure that you keep your spending within that budget.

In times of financial issues, I would advise you to stop using the credit card.

The reason is simple, you won’t be able to keep track of your budget. Even if you are using credit cards, make sure to pay off your credit card charges each month.

This will ease off your monthly finances.

tracking money

Share responsibilities

If both the individuals in marriage take the financial responsibility equally, there will be less stress in a marriage.

If both the husband and the wife are working and taking responsibilities of monthly expenses, loans, finance related decision making, it would be easier to deal if there is a financial issue.

If the husband is in charge of paying the bills and monthly expenses, the wife can save her earnings for their future/security.

This way, none will have to take the pressure of finances alone on their shoulder.

Consider Debt Consolidation

Debt consolidation involves combining multiple debts into a single loan, with the goal of obtaining a lower interest rate and making the debt more manageable. This can be an effective solution to deal with a financial crisis, particularly if you have multiple high-interest debts, such as credit cards, personal loans, and medical bills.

The benefits of debt consolidation include simplifying your finances, reducing your interest rates, and potentially lowering your monthly payments. Debt consolidation can be an effective way to deal with a financial crisis in a marriage, but it’s essential to weigh the pros and cons and consider all options before making a decision.


So, save your marriage by following these simple steps when you are going through a financial crisis. Don’t let the money be the cause to ruin your marriage.

Help each other and always be together during a crisis. You will see you can find a solution always.

I hope you all like this week’s post and I hope you will share this article with everyone else.

If you have any piece to contribute or want to collaborate, you are free to contact me.

Thank you!

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