3 Money Talks You Need To Have if You’re In a Relationship

Feb 14, 2017 | Investing for couples

It’s Valentine’s Day, and love is in the air! But it takes more than romance alone to make a serious relationship work for the long-term. It might not seem romantic, but being on the same page financially is just as important as agreeing emotionally for partners.

Studies have shown that communicating openly and honestly about money can lead to a happier marriage, while financial secrets can lead to the exact opposite. As I’ve said before, your views on money reflect your life goals and dreams, and what’s more romantic than agreeing on that?

With that in mind, here are some money talks you should have to ensure a happier and more successful relationship:

Start with small money talks

There’s no need to jump in all at once – just as you took time to get to know each other at the beginning of your relationship, you can get to know each other financially one step at a time. Money is intimate, and it is personal, so it’s natural to feel a little nervous revealing these details, and you don’t have to be pressured to spill it all out at once.

Try setting aside time for small money talks that you plan in advance. Even better, consider making it a “money date night,” and pairing the money talks with drinks or food. For example, maybe you bring up each of your student loans and debts one day over dinner, and set another date to talk about spending vs. saving habits and long term goals.

Your spending habits

While you may not think your individual money habits matter before you tie the knot, how you save and spend now could have a big impact on whether you both reach your financial goals later. Just like your personalities, everyone is going to have their own unique approach to money. One of you might be thriftier, while the other is a spender, and that’s okay. As they say, opposites often attract. The key here is to learn how to start honestly communicating and compromising together.

Your long-term relationship goals

Your long-term relationship goals are all going to be tied to money, so it’s important to narrow down the financial details and start planning early. Everything from buying a house together to having children depends on being on the same page financially. By getting on the same page now, you won’t only avoid money spats, but you’ll also be able to harness long-term investing to achieve your dreams quicker.

Are there any money talks you’ve had to improve your relationship? I’d love to hear about it! 

If you’d like to learn more about investing, be sure to check out my firm, LexION Capital. 


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