The financial planners in our Perth office have a lot of experience in working with couples. While it might seem like couples should have the same opinions about money, we have found that there are always differences between partners. Sometimes one partner is so dominant that he or she takes total control. We don’t think this is healthy. Here are some ways to compromise and provide a solution that both partners are comfortable with.
Embrace Your Differences
Even the most well-matched couples have two different points of view. They were raised in different families by different parents. Depending upon economic circumstances and the messages parents taught about money, both intentionally and unintentionally, risk profiles and views on how to manage finances can be wildly divergent.
The best way to handle this is to just embrace it. Accept that your partner has a different point of view concerning money than you do. Then you can discuss why you both feel the way you do.
Give a Little, Get a Little
Now that you can actually discuss money, it’s time to start working on compromises that will work for both of you. Make sure both partners are happy with any compromise. Otherwise, there will be bitterness.
Set Common Goals
Ideally, you will set goals for spending, saving and paying off debts. Once again, both parties need to feel that they can buy in to “our goals” instead of bemoaning the lack of money going towards “my goals.”
Most couples schedule “date nights.” It’s really easy to schedule “Money Nights,” too. This has to be a time when you are relaxed and free of distraction. Maybe you can do it over a nice meal and a bottle of wine. This alone will put you ahead of 95% of the population when it comes to your financial future.
Budget a firm amount to spend on whatever you want. It keeps you excited about life.
Call Purely FP Today
Talk to one of the financial planners in our Perth office: (08) 9453 8888.