Managing finances can be a sensitive issue in any relationship. The Ipsos survey conducted for Provident Financial sheds light on how Czech families approach joint money management. The survey reveals that almost half of the respondents said spouses have separate accounts, but they are more or less aware of how their partner handles money. However, three-fifths of people look for a joint solution if one of their partners has debts in their marriage.

It is essential to discuss financial commitments with a spouse or partner, especially when it comes to taking out loans or arranging credit cards or overdrafts. Three out of four marriages discuss these financial commitments, while a quarter of Czechs do not inform their partner before making financial commitments. It is important to remember that debts incurred during the marriage become part of the marital property, and both spouses are liable for these debts.

Financial distress can also cause arguments in relationships, with over seven percent of marriages being negatively affected by it. The lack of funds sometimes causes arguments, even in couples that do not lose money. The current economic challenges, such as inflation and rising prices, can be a huge stressor for marriages already struggling with their family budgets.

Unnecessary, ill-considered purchases of clothes, electronics, or cosmetics trigger family conflicts in more than a quarter of households. Similarly, the costs of visits to restaurants, pubs, bars, or travel and holidays are the reasons for arguments in 13 percent of households. One in nine homes argue over utility arrears.

To avoid arguments over finances, couples should make a budget together and stick to it. It is important to prioritize expenses and spend money only on necessary items. Couples should discuss their financial goals and work together to achieve them. If one partner is struggling with debt problems, the other partner should support them and work together to find a solution.

In conclusion, managing finances can be a sensitive issue in relationships. However, it is important to approach joint money management and discuss financial commitments with a spouse or partner. Couples should work together to make a budget, prioritize expenses, and achieve their financial goals. If one partner is struggling with debt problems, the other partner should support them and work together to find a solution. This can help avoid arguments over finances and strengthen the relationship.

Article by Prague Forum