A recent ACCC poll determined that money and financial issues are the leading causes of stress in relationships. However, it also determined that couples are discussing their financial issues frequently, which is a good thing. See the full infographic HERE, but keep reading for some advice and communication tips.
Personal Finance Communication Tips for Couples
Arguing about money is one thing. Communicating about money is another. Arguments can arise based on different values that two people may have regarding money, or the decisions that they make with shared money. Open communication can protect everyone from being dragged into a fight. Let’s take a look at some communication tips to keep everyone working together.
Be Clear From the Beginning
It’s not very romantic, but each person’s financial values and goals are important in a relationship. At some point it should be discussed. If one person likes to save every penny for the future, and the other person wants to splurge all the time, then they’re asking for trouble. Just having the conversation could lead to better understanding and perhaps compromise on both sides. If not, then the conversation may reveal that different financial goals and values make the two people less compatible than they thought.
I’m not saying that financial values are the be-all end-all when it comes to dating, but ignoring your differences could ultimately cause tension down the road.
It’s not about who’s right or wrong, it’s about what works for both people.
Do you communicate about your financial values and goals? Have you ever experienced relationship issues because of your differences?