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Relationships: Talking About Money

Talking About Money

Did you know money is one of the biggest contributors to arguments in a relationship? Approaching the topic of money shouldn’t be taken lightly, but it’s important for finances to be openly discussed. Here are some tips for how to talk to your partner about finances.

Make a date, make it consistent.
Talking about money shouldn’t be a discussion you spring on your partner, and it shouldn’t be a one-time thing. It’s a good idea to have an ongoing line of communication about budgeting and your money goals. Pick a time each month that works for both of you, and make that time a priority.

Keep it honest, but kind.
Joining your lives together means you also join any financial missteps. Keeping the conversation focused and honest will create an open environment where you can make a plan to achieve your goals. Maintain a positive attitude and stay away from blaming or judging each other.

Have goals and a plan.
It’s good to work towards something together. It could be improving your credit, building your savings, paying off debt or any number of goals. Once you have a goal, make a plan. After you make a plan, and check in on your progress each month.

Track everything.
When it comes to talking about money, it’s important to stick to facts. When you track your spending, you can look at the reality of your expenses and determine what should be changed.

Include an expert.
Checking in with your banker can provide a fresh aspect on your financial goals and plans. Slight tweaks to your plan can make a difference in the long run, and a banker can give you expert advice. Working with a banker can also help if you and your partner do not see eye to eye on your goals.

Having open conversations with your partner about money is very important for a successful life together. With these tips, you can have productive and positive discussions and reach your financial goals together.