Especially during the holidays (when many relationships turn serious), you should highly consider having “the talk” with your significant other…about money. Discussing money doesn’t seem like the most romantic thing in the world, but like it or not, much a serious relationship depends on being in tune financially. Whether you’re having a child or deciding on the grocery bill, you certainly need to be on the same page when it comes to your finances.
Although talking money with your spouse might seem a little spooky, you’ll be far better off by doing it through these tips:
Have a money date night
You can make talking money with your spouse (or partner) appear a lot more fun by turning it into a date night. Consider setting aside a weekly (or monthly) night to have drinks or tasty food to discuss your finances. Framing it as a date might seem silly, but you’re revealing your money interests and beliefs, as you would with any other topic, and this helps frame your discussion in the right lens.
After reveal your finances and you set goals, this can transform into a regular financial checkup – an opportunity to make sure you both stay on the same financial frequency, and to nip any changes or potential issues in the bud.
Avoid judgement
The key to talking money with your spouse is open and 100 percent transparent communication – which is far less likely to happen if you get judgmental. Remember, nobody’s perfect, and this is truer than ever when finances aren’t in your expertise wheelhouse. Debt or a lack of savings aren’t character flaws; they’re just another issue you need to solve in order for your healthy and happy relationship to progress.
Frame the discussions in terms of goals
Remember, the end game of talking money with your spouse is to achieve your goals and dreams together; not to get a specific number in your joint account. Talking about goals will ensure you focus on holistic financial health, and also allow you to hone in on specific and actionable achievements together. For instance, if you’re planning on having a child, consider talking about what the financial realities of that situation would be, and letting it snowball from there.
If you found these tips for talking money with your spouse useful, be sure to check out my firm, LexION Capital, for more expert financial tips and to learn more about investing.
Do you have any tips that have helped you talk money with your honey? I’d love to hear from you!
