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home › Life Events & Financial Decisions › Major Life Events › Remarriage › Communication Is Key

Communication is Key When You Remarry

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Communication about financial matters is important in all marriages, but especially in remarriages, which come with more financial complications and spouses who have developed long-standing money management practices. Stresses can build and relationships become strained.
Unfortunately, many couples do not spend sufficient time discussing finances before remarrying. Even if money caused problems in a prior marriage, either or both parties may be reluctant to rock the boat. In addition, many people were brought up not to discuss money.
If remarriage includes people of different income levels, the partner who stands to benefit economically may not want to appear “too greedy” or the wealthier partner, “too selfish.”
People also want to believe that “this time will be different” and that they will be able to handle whatever situations arise. Yet, research shows that there can be many “stumbling blocks” such as titling of property brought into the remarriage; different standards of living between custodial and non-custodial parents; imbalances in credit card debt or retirement savings accounts; imbalances in earnings and discretionary income after splitting expenses; and resentment of money spent on stepchildren by a spouse with no dependents.


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Life Events & Financial Decisions

Financial Tip

Communication is Key When You Remarry

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