Money is one of the most uncomfortable things to talk about for couples. Particularly when you’re dating and trying to put your best self forward, you may not be eager to jump into conversations about finances. However, having those conversations early and often in your relationship can help you and your partner avoid a lot of problems. And it can help you build a stronger relationship in the long run.
Approach money talk with grace
Having a conversation about money can expose a lot of emotions. After all, money is the most common cause of arguments between couples.
Perhaps the most practical topic to start navigating finances as a couple is your personal spending approaches. No matter how detailed your long-term financial goals are, the day-to-day stuff will ultimately determine your success. You may already have an idea of each other’s spending habits, but it’s essential to know precisely what money you have coming in and what you’re spending.
Current financial standing
For some couples, talking about how one another feels about their current financial situation can be the most vulnerable. But it’s necessary. Discuss whether or not you have debt and if you have plans in place to pay it off. Most people end up accruing debt to some degree, and getting rid of it will significantly impact the amount of money you have for saving and spending.
Lastly, dreaming together is crucial for any romantic relationship. You and your partner need to know that you are working towards things that will help you navigate finances as a couple and lead healthy, happy lives. Do you want to move in together relatively soon? Maybe you even want to purchase a home in a few years? Start writing down your dreams and savings goals so you can direct your steps accordingly.
Navigating finances as a couple
Most couples don’t look forward to the money talk, which is why so many avoid it for too long. But if your relationship is getting serious, now is the time to air out any financial differences and develop strategies. Follow the couple finances tips above for a strong start, and remember to treat each other with love and respect as you navigate the challenges ahead!