Looking for the love of your life can be hard.
But once you find it, you’ll discover that even harder, is keeping the flame always burning.
Back in 2006, a study was conducted by Money Magazine and they discovered that couples fight twice more about money than sex inside the relationship – with 13% of the respondents saying that they fight about money several times in a month.
So I took the time to ask some of the couples I know who have been married for years and asked them the most important money issues that couples should talk about if they want their “happily ever after” to last forever.
I hope you will learn a lot from these as much as I have. 😉
Have the “money talk” if things are getting really serious.
One of the ingredients of a strong relationship is communication. And this includes being able to comfortably talk about your financial status to your loved one. Be open about your income and most specially, the debts you owe.
Learn each other’s spending habits.
In most relationships, one is usually the spender and the other one, the saver. If both are savers, then that’s probably good. However, if one (or both) are spenders, then there should be an understanding and an agreement on how each other’s spending habits should be maintained (or changed) in the relationship.
Avoid the financial power play.
Marriage is all about working together as a team. Specially if you’re the income earner, don’t let your partner feel inferior by dictating all the financial decisions. Create your monthly budget and work out your spending priorities together as a couple.
Get to know the family.
Parents deep in credit card debt, siblings who often borrow money, a cousin with a child she can’t afford to send to school – these could be your in-laws. Ask your partner who they are, and introduce yours to him or her. And together, learn how your relationship will handle these financial matters when they come knocking on your door.
In the end, one thing I’ve noticed is that most financial issues that couples encounter are easily handled if both are honest and open about it. And aside from communication, mutual respect and the willingness to work things out together is very important in making sure that money issues will not strain the relationship.
What do you think? Is there anything I missed? Or perhaps you have a personal story regarding this topic that you’d like to share?
Please feel free to leave your thoughts in the comments section below and let’s talk about love, money and relationships today.
On a related note, you might also want to read this past article of mine: Money Problems versus Love Problems
Photo credit: Oengna
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