Marriage and Finance by Oz Hoopes

Before marriage it is wise to recognize the type of spender/saver you are about to marry. We hear that opposites attract, but is that good or bad for the relationship? Here are three types of relationship and some of the hills and valleys each may run into.

Saver + Saver

The saver, saver couple are most easily able to avoid debt. They communicate on the same playing field. Neither likes to spend or be extravagant.

But the down side to this arrangement is they may be wearing holy underwear when they arrive at the hospital in an ambulance. They also may be taking more of their fair share of the ketchup packets from the fast food restaurant so they don't have to buy it from the store. Often called tightwads or skinflints, they usually have money to buy what they need.

Spender + Spender

The spender, spender couple is oblivious to the problems being created, until maybe they are in financial ruin. Sometimes the main money earner will allow overspending because they don't want the other to know their situation. Spenders have been known to hide credit bills from the other partner in the hopes of paying them off before the other discovers the situation. Spending sprees are a common past time, with purchases made on a whim. Sometimes the items are not needed, but in the heat of the moment it felt good to buy, buy, buy. Many items are taken home and put away and never used, then later sold at a fraction of their value at the next summer garage sale. Spenders often have a lot of stuff and feel the need to buy bigger homes or storage space to house the extra stuff. Which is more expense for the couple. Unfortunately no one is monitoring the situation. Sometimes these couples are trying to "keep up with the Jones', which of course is never a good financial strategy.

Saver + Spender

This couple has a big plus in its favor. The spender is balanced out by the saver. The negative aspect to this relationship is the constant contention and bickering between the two. The spender is always trying to convince the saver to ease up on the purse strings, while the saver is always begging the spender to quit spending the hard earned cash. This relationship is on a teeter totter, with the balance of power shifting depending on who gets their way the most often. Occasionally, a saver will rebel and become a spender out of frustration to the spender, which puts this couple into the spender + spender category. This does not solve any issues, just puts them in jeopardy for financial problems. Better for this couple to find compromise in the middle. If each would just change a little, there would be less contention and more harmony.