How To Openly Talk To Your Partner About Money
Being able to communicate about finances can make or break a relationship.
Getty Talking about finances is definitely a touchy subject, especially when it comes to setting and agreeing on a budget with your partner.
The reality is that, disclosing your income can make it difficult to open up about your finances, even with someone you deeply trust.
But talking about money with your partner is crucial to having a long-lasting relationship. It will allow you to learn each other’s values, and if you two are on the same page with money, you’ll make a good team in the long-term.
One study found that 50 percent of couples argue about money. You can avoid being in that percentage, through, by having an honest and open conversation about how you spend, save, and invest.
Here are four tips on how you can have an open conversation with your partner about finances.
1. Be open-minded.
Everyone has a different relationship with money.
The way that someone was raised can shape the way that they view their hard-earned cash. With this in mind, be aware and receptive to those differences.
For example, some people may remember their parents fighting about money and budgets being tight, while others may not have any recollection of money worries through their childhood.
These differences in upbringing will contribute to your insecurities or stability when it comes to managing their finances.
2. Have a sit-down conversation.
It’s easy to glaze over your financial expectations in a casual conversation. If you’re not in agreement, you move on.
But if you see a future with your partner, it’s important to have a serious conversation in which you don’t avoid the hard questions.
Pick a time where emotions aren’t high to discuss how you budget, including what you’d be willing to change if you were to or are combining your finances.
A recent Money Crashers study found that 89 percent of people haven’t lied to their partner about money. That statistic shows how uncommon honesty is when it comes to money, so set the scene for an opportunity where you can both have a truthful conversation.
Set expectations in order to lead a healthy, honest relationship with finances.
3. Set a shared goal.
Remember that you’re a team and your love for one another brought you together.
Working together to reach a common goal will help you see managing finances in a positive light, especially when you accomplish that goal.
Start with something small, like saving for a weekend trip or a nice dinner out together.
4. Hold each other accountable.
Even if you’re not ready to combine finances, confide in each other on your personal money goals, such as paying off student loans, saving for a house, or saving for a new car.
Whatever the goal may be, supporting each other through them will help you feel more comfortable when talking about money.
Unwritten is a website covering relationships, dating, and love. For more of their relationship content, visit their site.