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... Money matters Money matters

4 January 2008

Along with sex, money is the biggest cause of relationship strife.

Now a financial expert is advising couples on how to manage their finances in a way that won't threaten their relationship.

Investopedia's Lisa Smith says it is crucial to be honest with your partner about your incomings and outgoings.

The other essential is to seek some common ground - a basis on which rules can be built. Where disagreement reigns, couples need to prioritise prudence.

Smith also emphasises the need for understanding, as people often have very different attitudes to money.

"The less interested spouse often views money as a means of control and may believe that the person holding the purse strings gets to make the decisions," she told refiff news.

"While the essence of that view point is accurate, the person managing money often views saving instead of spending as merely the proper way of staying out of debt and never thinks about it terms of control."

Finally, those who dislike dealing with money have to live with the consequences of offloading the responsibility and accept they will not have much input, she warned.