Talking to your spouse about money is not always easy. For many women, this can be very hard to do because, well, romance and finance don't always mix well especially if you are not actively communicating about money with your partner. To help you get over the hurdle, here is some financial advice for couples that will help when it comes to talking to your partner about money.
Tip 1. Be honest with each other about your finances
If you are in a serious relationship, you want to be honest with each other about your finances and financial situation so it doesn't come back as a problem later on. Talk about your overall financial picture including your credit and your debt and lay things all out so you are both aware of each other's financial obligations.
It's also important that in your conversations you talk about your goals and ambitions particularly around improving your finances together as a team. This will help you guys develop a joint focus on where you want to get to with your finances.
Tip 2. Remember it's not a fight, so avoid fighting about money
Talking about money is not synonymous with getting into a fight and so don't make it one. Plan a nice dinner, go for a long walk...basically create a comfortable environment where you can both talk about your finances and your related feelings. Discuss your future plans and dreams together.
Set goals for how much you intend to save and how soon you want to pay down debt or improve your credit together. It might also be helpful to know how men and women differ when it comes to communicating with each other.
Keep in mind that you don't need to talk about all your entire financial situation in one conversation. You can talk about one topic over dinner and save the other topics for a separate occasion. This way things don't get too overwhelming or stressful. Remember, it's a conversation so be sure to listen to your partner's perspective, ideas and thoughts as well.
Tip 3. Budget and set goals together as a couple
Put some time on the calendar once a month to budget as a couple. This could include talking about your spending for the next month, any major expenses coming up and your savings and investment goals.
You can also create fun money challenges to do together each month. Remember your significant other is on your side (they are basically you built-in support person) and planning out your finances together will help you accomplish your goals faster.
Tip 4. Don't get on each other's nerves about every single cent
You don't have to be on top of each other for every single penny that you each spend. This can be really annoying especially if you were used to doing your own thing with money before you got into a relationship. One way to get around this is to set spending limits with each other and decide that if you intend to go over that particular limit then you both need to talk about it and agree on things.
In relationships, money can be a touchy/difficult to broach the subject, but as long as you are communicating often, sharing your goals and dreams with each other and discussing your concerns in a non-confrontational manner, you can master talking about and managing your finances together. It is super important though, that you are both on board with the process because after all, it takes two to tango.
Got any other useful tips that have worked for you when it comes to money and your relationship? Share them in the comments!