A recent survey of nearly 1,000 couples who are married, engaged, or in a relationship found nearly 75% said they had gotten mad at their partner because of a financial decision they made without talking about it first. The majority of those decisions were a big-ticket purchase made without discussing it first. Other financial decisions that irked spouses were:
– Hiding debt
– Not saving enough for future big purchases or agreed upon financial milestones
– Spending money from savings
“You can’t have a great relationship until you can communicate and agree about money. Money is either the best or the worst area of communication in our marriages” says author and long-time financial counselor, Larry Burkett. Many finance and relationship experts agree: money arguments aren’t really over money at all, they are about our different value systems and that translates into how we spend (or save) money.
If you find you are at odds with your partner over finances more often than you would like, here are three tips to help spark meaningful conversation and get to the bottom of the problem and find solutions:
In the end, remember why you chose this person as your significant other. In the heat of the moment, you may not realize it but you need their skills, insight, and perspective—especially the ones you don’t have (and they need yours)!
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