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Overspending Spouses

Article

Do you and your spouse have different ideas of spending money? There are ways to address your overspending spouse, but it will only work if you are a responsible spender.

When you and your spouse have very different ideas on the proper ways to spend your money, something needs to be done. In this case, MoneyCrashers is talking about when your spouse overspends and you are frugal. Perhaps it’s small: your spouse always comes home from the mall with far more than he/she intended to buy. Perhaps it’s something larger: a new BMW is a necessity for your spouse, whereas you see nothing wrong with the same car you’ve been driving for five years.

Consistent overspending is something that needs to be addressed or it will cause a rift in your marriage. Especially with the economy the way it is, with many families struggling to pinch pennies, one overspending spouse can be disastrous.

There is one caveat to addressing your spouse’s overspending ways: You cannot overspend yourself. If you are not setting a good example and working toward the financial goals you set, then how can you expect your spouse to change? And never make these suggestions an attack. Being supportive will go a long way toward encouraging your spouse to change.

So how do you deal with a spouse who seems to blow money at the slightest whim? Be as gentle and as loving as possible, but assertive in your mission.

Click here to see the steps you can take to deal with an overspending spouse and improve your situation.

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Victor J. Dzau, MD, gives expert advice
Victor J. Dzau, MD, gives expert advice