Relationships and Money

Personal Finance

Feb 08,2017

Relationship and Money    Article 1 of 2 

 The Money Issues That Drive Couples Apart!!!

 Having a spouse or partner by your side can be a great help in achieving financial stability and retirement readiness, but first you must have the money talk.

 #1: Get on the same page.

 Whether you’re just starting out as a couple, newly married or have been married for many years, communication about money can be a real sticking point in relationships. Have the money conversation outside the house, at the beach or mountains. Let’s say you had the money conversation in the living room and it didn’t end well. The living room will be a reminder.

What financial goals do you want to accomplish?

#2: Have shared ownership for financial matters. 

By having a shared approach to financial matters and retirement planning, you’ll both feel more secure and satisfied with your finances.  For example,  are you going to share the rent/mortgage 50/50. Perhaps you open an account and you both contribute to the account to pay the bills.

#3: Open a possibility account.

You can have several accounts within your possibility account, one to replace your appliances, dream vacation, down payment for a house, or replace your car.

Managing money is like a dance, it takes practice and there will be times when you go back and forth.

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