Love and money.
We all come from different backgrounds, social classes and experiences, so when two people fall in love and have to learn how to talk about and merge their money, it can get, well, complicated.
But what I’ve learned from being a financial planner for 11 years and working with a lot of couples on their financial plans is that once you get started talking about your financial life together, it really isn’t that difficult after all.
One of the best things you can do for yourself and your relationship is to just start the conversation.
It reminds me of an old saying my manager used to tell me at one of my jobs in college. “How does an elephant eat a sandwich?” The answer: “One bite at a time.”
And that’s the best way to approach these kinds of conversations with your partner, too. Be bold, be brave and dive in–one conversation at a time.
And whether you’re newly married, taking your relationship to the next level or you’ve been together for years, I’d like to offer these simple tips as a way to help you communicate more effectively when it comes to money.
Schedule a Money Date to talk about money together. (Find out more about themhere.)
Ask each other about your money history. Find out each other’s memories, experiences and how your parents handled money as a way to understand how these specific messages are affecting your behavior today.
Share your old mistakes, pains or hurts about money.
Ask about each other’s hopes and dreams.
Share your short-term and long-term financial goals.
Discuss a shared budget or spending plan to handle the day-to-day finances.
Here’s to a life full of love in every way.
P.S. This month, we’re celebrating all things money love at Financially Wise Women, too. Be sure you’re following along on Facebook for 28 days of great tips about how to love your money, and share the ways you’re doing it in your own love by using the hashtag #MoneyLove and tagging Financially Wise Women on social.