How to talk to your spouse about money|Partner & Money Issues
When you’re in a relationship, you should be able to talk about anything. But why is money such a touchy subject? We are so free to share our bodies but finances are treated as more intimate. I’ll share some talking points to open the conversation about money with the one you love.
Dinner Date
The best suggestion is money over dinner. A simple conversation during dinner. Finances shouldn’t be treated as an uptight, serious and stressful conversation. We should be able to talk about money as casually as we do with any subject over a glass of wine. Depending on where you are in your relationship, I could offer 3 different types of rebuttals.
The couple ready to move in together
How exciting is it to move in with your Boo? Finally, taking it to the next level and sharing each other’s space. But many couples don’t even plan their budgets before moving in together. You should be asking important questions like “How are we split the bills?” ” Will we be signing a new lease/ mortgage together?” How will we finance the furniture inside the home? It’s important to discuss both personal bills and household bills. Do you or your spouse have other financial responsibilities? Student loans, car payments, and credit card debt. Before you move in together, read my post “So you grown, you want to move out”.
Preparing for a child.
Open the conversation about asking about their insurance. Saying something like “Having insurance is important, who is your insurance provider? ” “What are your Co-pay like?” The next important step is creating a plan for financing the needs of your new child.
Talking point: “To better prepare for our child. Let’s buy a box of diapers and wipes every two weeks. This will better prepare us for our child’s arrival”.
Setting up a bank account for a Baby Fund was one of the best decisions I’ve made during my pregnancy. You could tell your spouse/ partner ” I’m planning a savings account for our baby. I will be saving $30 each week. Here it the information to start adding yours. “
The over-spender
This is for the partner/spouse who always wearing “the latest and the greatest ” but nothing else to show for it. This talking point could also help that friend who asked you for $20 while wearing their Gucci belt.
Tell them you notice their spending habits and it’s nothing to be embarrassed about it. Ask them “Could I help you? ” Explain while you can not help monetary but you could offer resources. Ask them where they are on their account (current or past due) and help them find a solution. If you need more information about budgets, click here.
Download The Budget That Saves Your Wallet
Did you know most relationships end because of finances? It’s important to not argue but to have a conversation with your partner. They may not know how to budget or aren’t financially fit. I understand that some people argue ” I don’t have time to teach someone how to manage their money, I’m not their momma.” But in my honest option, we need to change that way of thinking. Many of us didn’t come up with financial guidance. We don’t truly know someone’s money situation until sometimes years of dating and if you choose to stay with this person their money habits will affect you later in the relationship. We should help each other in our partnerships. Did I forget something or if you have something to add let me know in the comment below.
P.S: If you need “The Budget That Will Save Your Wallet” click here….IT’S FREE!!!!!!!
