Navigating the Money Talk with Your Partner: Start Small, Dream Big
Let’s be real, money is not the first thing that comes to mind when bringing up issues in your relationships-at least until money becomes a problem. But it’s also why money is a deeply neglected issue and a top reason for divorce.
Money talk can be extremely intimidating, especially when you and your partner have different financial visions or emotions around it.
But there’s a simple way to begin the conversation that can help you align your dreams and goals for the coming year.
Start with a Simple Question
Instead of diving headfirst into a potentially heated discussion about long-term financial plans, start by asking your partner a straightforward question: “What do you want to create in the upcoming year?”
A major red flag in communication I see within couples, is they tend to bring up money problems or issues by starting with negativity. Immediately pointing out financial disparities or lack of control in other partners.
If you want someone to see your perspective-respect comes from being mindful of what they may have experienced with money, and coming to them with an approach with the intent to build-not tear down.
Why Keep It Short-Term?
Discussing long-term financial goals right away can lead to disagreements, as your visions might not be perfectly aligned. However, no matter your vision, be it a cozy home, adventurous travels, or building a family, they all require financial resources.
Money as a Tool for Creating Experiences
Remember, money is a tool that empowers you to bring your dreams to life. It’s not about the numbers; it’s about the experiences and memories you want to create together. Your finances are a means to an end, not the end itself. All of this can be communicated through conversation.
The problem is whether you know it or not emotions get involved- you have to be mindful of coming across in a way that attacks their behaviors, their intent or questions their abilities.
Understand Your Partner’s Wants
It’s essential to recognize that you and your partner may not desire exactly the same things. That’s completely normal.
What’s important is understanding each other’s desires and the reasons behind them. This knowledge helps build empathy and cooperation as you work toward your shared and individual goals.
A Practical Example
Let’s say you dream of a beach vacation while your partner envisions starting a family. Both are beautiful aspirations, but they come with different financial considerations.
Understanding each other’s motivations and being willing to compromise can lead to a plan that allows you to work towards both dreams over time.
Starting the conversation with short-term aspirations is a gentle, constructive approach. It encourages an open dialogue about your dreams, your partner’s dreams, and how you can use your resources together to make them a reality.
By acknowledging your partner’s desires, you strengthen your relationship and create a solid foundation for your financial journey together.
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* The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. Investing includes risks, including fluctuating prices and loss of principal. No strategy assures success or protects against loss.
