Helpful Tips on How to Talk Money in a Relationship

The subject of money is like everything other thing in a relationship which does comes down to communication. Money has long been known to be one of the major causes of stress in relationships. However, financial compatibility will play a big role in the success of your relationship. However you choose to look at it, money is going to impact any choices you and your partner decide to make, or don’t make. Therefore, when it comes to money in a relationship, communication is key.

Money matters because of the expectations that come with it, and because of the way it dictates not only what you can do with your life, but what your limitations are as a couple. Love might, indeed, conquer all, but love still needs a roof over its head, and probably also desires to enjoy the good things of life. Money can become important when one party can’t keep up with the other financially but is still expected to. Therefore, knowing exactly what both partners are expected to contribute to a relationship as a team is very important to clarify, so no one ends up feeling out of their depth or exploited.

First of all, both of you need to disclose where you each stand, financially. You need to get to understand each others ideology about money in general. You obviously were both raised up in a different environment and under different conditions or circumstances which has over the years informed your ideology about money. In this conversation you’ll need to go over all the basics like: Do you save money? how much you spend and save; how do you budget? or whether you even budget at all; how you set financial goals; Do you invest? how do you invest; how much you earn (net income), how much you owe (student loans, credit cards, and other debt). Then you begin to take note of anything you might be concerned about with your partner’s financial ideology or situation about money.

Secondly, discuss how you can begin to have similar financial priorities. By observing each others lifestyle preferences, this will hint you on finding out what you both see as important, and how to best tackle future money topics. You need to make sure that you are both capable of being reasonable, respectful and communicative when it comes to everyday spending, and that you share the same goals when it comes to spending and saving generally.

Thirdly, slowly get more financially intimate. You may begin with shared values. Talk about shared dreams. A major part of staying together is communicating shared values and honoring them. What kind of life do you want to have, and how will money help you reach those goals? Figure out shared expenses and do not impose your money ways on your partner. Gradually begin to get financially naked, and air out concerns you might have about your partners financial preferences. You need to understand that when it comes to money matters, if you’re in a serious relationship, you’re both in it together. Your partner’s hard times are yours as well, and vise versa. So, you may need to prepare to unexpectedly support your partner whenever the need arises.

Finally, start planning a financial future together if you are married or planning to married. A stable relationship often involves planning a future. So, money is very vital because where you spend it is going to dictate how you live, and how you achieve your goals together.

So it is important to pay proper attention to the way money functions within your relationship. Because if you don’t communicate and have an open dialogue about your finances, you’ll find yourselves fighting about how the other spends money and how it affects your relationship or dreams.

Good luck!!!