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How to Be Financially Stable in Marriage: Top 6 Tips for Black Couples


Financial stability doesn’t always mean wealth, but being financially sufficient to care for your family’s monetary needs without external support. This may come as a surprise, but money issues are one of the most common causes of divorce in marriages. Here are the top six tips for black couples on how to be financially stable in marriage. 

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Change Money Talks From Me to We

The first step to seeking financial stability in marriage is committing to changing ‘me’ to ‘we.’ While it’s okay for you and your partner to have personal money goals, once you combine households, there must be a deliberate joint effort toward the expenses, including utility bills and mortgages or rent. 

You and your spouse have to choose to act as one in your financial decisions. If one person is self-centered, that can put your family’s financial well-being at risk. Generally, you should have a ‘we want’ attitude, not an ‘I want’ mindset as a couple. 

People Also Read: 7 Major Money Problems in Marriage Black Couples Should Know

Avoid Borrowing to Finance a Lifestyle

You should use borrowed funds when the profits will outrun your borrowing costs. This might be investing in a family business, acquiring a high-in-demand skill, or buying a house. In these cases, borrowing can provide the leverage your family needs to become financially stable faster. 

Conversely, using borrowed money to sponsor a lifestyle you can’t afford is losing the chance of becoming financially stable. Plus, the accumulated interest of the borrowed money further increases the cost of your family’s living standard. 

Learn Financial Education

It’s one thing to make money and it’s another thing to save and grow it. Money management and investing are lifetime endeavors. Taking the time and effort to learn about investing and personal finance will help you become Financially stable in marriage. 

Always remember that making sound investment and financial decisions is essential for reaching your family’s money goals. You can find good financial materials on Amazon that’ll help you learn how to manage your family income properly. 

People Also Read: What to Do if Your Spouse Is Bad With Money? 6 Top Financial Advice

Try not to Leave Money on the Table

If you or your spouse work for a company offering a 401(k), try to contribute up to the maximum amount your employer can match. If not, you’re leaving funds on the table. You can also lower your taxable income by deducting your contributions in the year you made them. 

However, you can contribute to a traditional individual retirement account (IRA) if you or your spouse don’t work for an employer offering a 401(k). This approach will also result in tax savings since you can deduct contributions. 

Track Your Family Spending

Knowing the amount you spend and what keeps your household spending in check. A spending tracking notebook from Amazon can help you do this. 

When you track your family spending, you might discover that recurring charges for subscriptions or streaming services your family never used are a waste of your hard-earned income. Once you discover this, you can easily cancel the subscriptions to save more money for your family. 

Invest in Each Other’s Growth

Look at you and your partner as a financial asset. Investing in you and your partner will pay off in the future. Your knowledge, skills, and expertise are the biggest assets your family could have. 

Strive to increase your household value by constantly upgrading your skills and knowledge and by making sound career choices. Keeping your skills updated and acquiring new in-demand ones can make you and your partner highly sought-after professionals. 

Money is just as important as love is in marriage. Money problems are common issues that make married couples sign divorce papers. That’s why it’s essential to join forces with your partner to work toward becoming financially stable in marriage. 

Do you want to learn more about improving your money management and communication skills with your partner? If so, check out these books on Amazon.  

People Also Read: Let Your Money Work for You: Top 4 Ways for African Americans

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Uchenna Agwu
Uchenna Agwu
Hi there! I’m Uchenna Agwu, and I love to write. When I’m not writing, you can usually find me reading books or watching documentaries (I’m a bit of a nerd). But I also like to get out and explore – whether that means going on hikes or checking out new restaurants.


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