Money Communication For Couples
Having clear communication in any relationship is a must, especially about finances. It’s always smart to keep the lines of communication open and clear about finances with your partner, but unfortunately, money and debt are usually the top reasons that couples argue. So what do those couples that have strong marriages and relationships do? Here at True Sky Credit Union we are dedicated to making sure your financial struggles don’t interfere with your relationships, that’s why we have compiled a list of 5 healthy ways to discuss your finances with a loved one. Let’s get to it!
5 Tips for Discussing Finances
1. Cultivate Money Goals as a Couple
Making and/or adjusting shared goals is the best way to create a platform for money discussions. Whip out the whiteboard, Excel sheet, or notepad and get to brainstorming. Discuss exactly what you want to do with your money and establish specifics to what you and your partner want to work towards. For example, it could be that you want to own a lake house someday, or a second car for hauling the kids around, maybe get a pool, or heck, having more kids is an investment in itself. Whatever you want for your future, it is important to get these plans out in the open.
2. Adjust Your Money Habits
Many couples find out that their past home life growing up had different money expectations, perspectives, and experiences than their partner. If your partner has different practices or views about money, try to understand their side and calmly explain yours. Do the work to show that you hear and understand them versus criticizing or completely trying to change their attitude. Discussing how you can combine money habits is a huge necessity in making a relationship work.
3. Get Organized
Get those papers and documents ready! When getting the most out of your financial talks, it is necessary to have access to both of your financial information. It is also important to not only have the documents accessible, but you should both create a list of things to talk about. Instead of going off on tangents or arguing, you will create a systematic way to find money solutions and in doing so, you will create a stronger relationship with your partner–a win-win!
4. Stay Positive
This tip might seem a bit obvious, but it is important not to bring up non-financial tiffys during your money talks. Bringing up non-related issues essentially disrupts having successful money talks and achieving your goals as a couple. Having bigger conversations about money outweighs small quarrels. It is also important to keep a positive partnership perspective. Instead of saying phrases like “You need to stop that” or “You need to be doing this,” it is better to each focus on the end goal and do your individual parts to reach the goal you are setting for yourselves. It is obviously negative and unhelpful to focus on someone’s mistakes or habits, no matter if they need tweaking or not. If either of you are too negative, money talks as a whole could create a permanent toxic environment, which is the opposite of the goal. In that case, you may need to seek financial help/advice.
5. Check in with Each Other
Again, it is important to sit down with your significant other with no distractions. That means the television is off, there is no music playing loudly and your pets are not distracting you. Unfortunately, unfocused and irregular talks are what typically happens and can do much more harm than good. These talks can give the impression that everything is flowing well, which is usually not the case with healthy money communication. These scheduled talks should occur about once a month to discuss any important financial matters. Afterwards, make sure to discuss and summarize what your next steps will be as a couple to ensure there aren’t any misunderstandings and that everyone knows their roles and responsibilities.
True Sky Credit Union is Here For You
If you have questions about money, checking or savings accounts, personal loans, auto loans, home loans, or how to become a member, we have online agents ready to chat whenever you are, just visit our website. We want you and your partner to have a smooth time with money, and True Sky Credit Union is here to help that be possible. Sorting through money matters and takes time and patience, just like relationships do. Save yourselves headaches and drop by any of our 12 locations with more coming soon. We cannot wait to help you meet your money goals and bank with your local Oklahoma credit union!
