You can talk to your significant other about what they love, what they hate, where they want to travel and what they want to accomplish. But talking about the root of all those things—money—can be difficult. Financial experts say money and money problems are the leading cause of divorce which means communication is key. Make those money talks less awkward with these tips.
Plan for It
Having a conversation about money isn’t something you want to spring on someone. Instead of bringing it up in the heat of the moment or just before bed, plan your chat ahead of time. Tell your partner you want to go over your finances next Tuesday or Saturday afternoon. Write it down on your calendar in ink. That way you can both be prepared and focused.
Schedule Them Regularly
Having one money talk and then avoiding the topic for the next decade isn’t the way to achieve financial success. Try scheduling one money talk a month. Review where you succeeded and what you can try to do better on. The more you have them, the less awkward they’ll be.
Do Some Dreaming
No one wants to repeatedly get beaten down over how low their income is, how much they overspend or how bad they are at saving. While it’s good to work on your weaknesses it’s also important to spend some time during your money talk dreaming about the future. What goals do you have? What great trip do you want to take? If you’re on the same page with your goals you may have an easier time saving for them.
Most money pros agree—you’re either a spender or a saver. And it’s likely that you are on one side of the spectrum while your spouse is the other. Just knowing that will help you in your money talks. Expect differences because the way you look at and treat money is inherently different. You don’t have to be in conflict, but you do have to find balance.
By Alison Storm
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