How to talk to your partner about money
Chris Broome – Chartered Financial Planner
Talking about money can be a difficult and sensitive topic, but it’s an important conversation to have with your partner.
Here are a few tips to help you have a productive conversation about money with your partner.
1. Set a specific time and place: Choose a time and place where you both feel comfortable and where you can have an uninterrupted conversation.
2. Be honest and open: Share your thoughts and feelings about money openly and honestly. Be clear about your financial goals and concerns.
3. Listen actively: Listen to your partner’s thoughts and feelings about money, and try to understand their perspective.
4. Be respectful: Be respectful of your partner’s opinions, even if they differ from yours. Avoid being critical or judgmental.
5. Create a budget together: Create a budget together that takes into account both of your income and expenses, and make sure you are both on the same page with your financial goals.
6. Identify your priorities: Identify your priorities as a couple, such as saving for a house, vacation, or retirement and make sure you are both on the same page.
7. Be open to compromise: Be open to compromise and be willing to make changes to your spending habits if necessary.
8. Seek professional help: if you need it, seek the help of a financial adviser or counsellor to help you with budgeting and financial planning.
Remember that talking about money can be difficult, but it’s an important part of any relationship.
By being open, honest, and respectful, you can have a productive conversation that will help you and your partner reach your financial goals together.
If you have any questions about any of the above, or wish to discuss your long-term financial plans with us, please get in touch. Contact us