Financial advice guru Dave Ramsey is urging newlyweds to prioritize their own financial stability before extending generosity to family and friends, citing real-life examples of couples struggling with money conflicts.
Newlyweds Face Money Conflicts
On Tuesday, a letter from a listener named Jacob revealed that he and his wife, married less than a year, were already facing tension over money, reported KTAR News.
"Often, she will give money to family and friends. Most of the time I wouldn't mind this, as long as the person really needed help," he explained.
He added, "But often she will do this, and we end up short when it comes to taking care of our bills, paying off debt and saving."
Ramsey Urges Couples To Prioritize Debt, Savings
Ramsey responded with a blunt message. "Your wife's heart is in the right place. And generosity is a very attractive quality in a person. Still, that doesn't make what she's doing a good idea right now."
He said, "Broke people can't help broke people. By this, I mean only the strong can help the weak. Right now, you two should be working together—as a team—to get your own financial house in order."
“Sit down with your wife, and gently explain this to her. She's a good lady, Jacob. Praise her for her giving heart. But at the same time, show her what's happening with your own finances,” he added.
Ramsey outlined a step-by-step approach: pay off debt, build an emergency fund, save for retirement and only then set aside money to help others.
Ramsey On Counseling And Prenups For Couples
Ramsey advised engaged couples to take pre-marital counseling seriously, stressing that even long-term relationships required preparation.
He recommended discussing money, children, religion, and in-laws to prevent future conflicts.
Separately, Ramsey addressed a caller concerned about a prenup due to a large financial gap, including a $7 million business.
He said prenups were usually unnecessary but could protect existing assets, should not tie payouts to marriage length, and could be updated if both partners contributed to future growth.
Ramsey emphasized that prenups only became relevant if the marriage ended, while couples should operate as partners during their marriage.
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