This week we’re starting a new series on finances and the family. Even if you’re a family of one, there’s plenty that’s applicable for you here so don’t skip them!
If you’ve ever read an article about the most common arguments, or sources of stress, in a relationship you know that “money” is always near the top of the list. It’s unavoidable – money is a part of the day to day life you’re sharing and it can be really difficult if you and your partner have different approaches to things like saving and spending. So what can you do to take the stress out of money conversations? We’ve got some tips.
1- Be honest. Hiding credit card debt or bad spending habits only make it worse. You don’t have to disclose everything, but lying about money is only going to make it worse in the long run.
2- Frame things positively, not negatively. “I hate when you waste money” is immediately going to put someone on the defensive. Find a way to talk about things as positive goals rather than bad habits to eliminate. “You’re wasting money on smoothies” becomes “Let’s try and save for a vacation together.”
3- Talk goals and values, not just dollars and cents. You’re not going to agree on everything. Different people value different things so something you find important might seem frivolous to your partner and vice versa. Spend a little time trying to understand why your partner’s financial habits are what they are so you can identify where you’re in agreement, where you disagree, and what you can do about the latter.
Want more help navigating the financial waters of your relationships? Check out the full article here.