That said, Lauren’s not the best at staying on top of routine financial matters like routine bill due dates or organizing tax records. And believe it or not, Lauren is better at making practical decisions about what to buy now and what to buy later. Remember how I said that even though I write about finances everyday, I’m not perfect? Well, here’s an example: I tend to get emotional about stuff I want. (And it becomes a big deal when you don’t talk about it and/or hide stuff.) 3. Money is a part of life it’s not a big deal until it becomes a big deal. The best way to talk about money is a little bit every day. Don’t make it a big dealĭon’t wait until you’re upset about a big purchase your partner made to bring up finances. The important thing is we discussed the pros and cons and we will end up making the decision together. (I just spend years getting out of debt, and I’m not eager to go back in…even though it’s under entirely different circumstances.) One of us is going to lose this debate, and that’s okay. I, too, would love a new car (and I am not necessarily opposed to them), but I’m wary of a three or four year car loan, even at 0% APR. She’s tempted by some sweet deals on brand new cars these days-including 0% financing with our good credit. But the more you talk about your values and differences with your partner, the less likely you’ll resent your loved one for a financial decision you may not understand.įor example, Lauren and I agree that a new car is in our future, but we don’t see eye to eye on how much to spend. Here are six strategies that over have worked well to help Lauren and I talk about money openly, honestly, and frequently.Ħ ways to have better money talks 1. This Valentine’s Day, let me show you how to treat your partner to a gift that may just transform your relationship…the gift of talking about money. (I think she made the right decision, and hopefully she agrees!) “I have a plan to better my career, start a business, watch my expenses, and pay this off.”Īnd that’s what I did. “Hey, I’ve got $80,000 of debt you MAY NOT want to marry me!” For example, well before we got married, I told her: Our commitment to talking about money goes back quite a ways. Our financial values and our long-term goals.Our financial priorities for the coming year.How we’re doing with daily expenses compared to what we hope to spend in a month.But one thing I am good at-if I do say so myself-is honest communication about finances with my wife, Lauren.Īnd by that I don’t just mean: “Hey Sweetie, have you paid the credit card bill this month?” I mean we’re good at talking about: I have old accounts I need to take care of. Whether you’re married, engaged, or just starting to get serious with somebody, it’s a good idea to come clean about your financial situation, learn to share your financial goals, and start talking about your financial habits.Īlthough I’m a financial blogger, I’m not perfect. One way to do that, it seems, is to talk about money. Most couples want to avoid tension, arguments, and-of course–breaking up.
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