Relationship gurus ask us to be open and communicative with our partners and talk about all issues that surround us, even money and finances. Yes, even though it seems like such a mundane thing to talk about in our romantic soiree, money and finance has to be discussed at the onset of every serious relationship if we want a meaningful relationship with our partner.
Issues regarding money could spring up in relation to courtship and wedding expenses too. Even if a couple is staying together, the discussion about how to split the bills is an important one to keep misunderstandings at bay.
Follow these tips to create an atmosphere of understanding and teamwork in your finances too, just as you team up for every other sphere of your life as a couple in love.
1. Communicate with your partner about your financial goals: This is the first and the most important step to have a transparency in your relationship where money issues are concerned. Talk of everything each of you are looking towards for individual spending or spending for the family or for you as a couple. It could include car, eating out, kids’ education, new house, going for a vacation to Bahamas, or even investing in a higher education for yourself.
If in the process of discussion you see that some of the points do not agree with that of your partner or vice versa, then try talking out why. The objective is to come to a common decision and create a win-win situation for both by working as a team.
2. Keep emotions away from your money talks:-Whatever you talk, remember it is not personal. You two are talking about your views on finances. Talk about your ideas on handling of accounts. Discuss who should pay the bills. Discuss about mortgages.
3. If both of you are unanimous on what should be the things you want to spend on, you could think of opening a joint account from where the money will be spent or you could decide on keeping your individual accounts and creating one joint account from where the bills will be paid. Another option would be to decide on what will be your areas of spending and create a joint account where all your savings could go. Later you could decide on planning on investments from this savings.
Whatever be your financial goals, remember a frank and open conversation about what are your areas of agreement or disagreement is necessary for having a relationship that is understanding and works towards common goals, and is free from any issues of money.
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