Money has been known to be a leading cause of stress in couples -probably because we are insecure about our own financial situation in relationships, and talking about finances with your partner would force you to deal with the gravity of the situation.
Financial Compatibility In Couples
Arguments over money and how to deal with finances are all too common and can cause real harm in a relationship. Sometimes couples who agree on everything can have different views on money.
We learn how and when to compromise with our partner about where to put the toothbrush and how to make their favorite tea or coffee. Similarly, we should have an early understanding about how to manage finances. Couples who don’t talk about money before marriage put themselves at greater risk of finance-related divorces down the line.
If you want your marriage to have the best start possible, do yourself a favour. Sit down and have the difficult talk-the one about money-with your partner.
When You Marry Your Partner, You Marry Their Finances.
You may be marrying the love of your life, but money will still be a part of the equation. That’s why it’s so important to know everything about each other’s finances well in advance. From the amount of debt you both have to the types of assets you hold and any inheritances you might expect, don’t leave anything to speculation. Laying all the financial cards on the table should be viewed as an essential part of starting a new life with someone.
Finanial Trust In Couples
Trust is an essential component of any relationship, and once broken, it may be impossible to put right. Financial disloyalty takes many forms — from undisclosed debt to secret credit cards and overdrawn bank accounts. Any of these could threaten your financial future or that of your partner.
Even if your relationship can survive a financial indiscretion, it could still take years for your family’s finances to recover. And if the situation ends in divorce, it could leave both parties worse off than they would have been otherwise.
If you want to maintain a relationship built on trust, you have to be honest with each other about your financial challenges and learn how to tackle them together.
Take A Step
We need to talk a lot about money. But it’s such a taboo topic that it can be daunting to get started. In a perfect world, conversations about money and finances wouldn’t be so uncomfortable. But in the real world, financial discussions can be a considerable source of conflict, especially in a new relationship. It’s perfectly fine if you don’t want to talk about money on a first date. But as a relationship gets more serious, discussions about money, debt and interest payments become more important.
If you and your partner learn how to talk about finances now, those discussions will be a lot easier by the time you’re planning a wedding. And it’ll put you both on the right track to have a more successful future together.
