Home Insights & Advice How to manage your finances as a couple

How to manage your finances as a couple

by John Saunders
18th Feb 19 10:19 am

If love conquers all, then money is capable of destroying all as well. This is because as much as people want to believe that love will hold them down. Financial issues are very much capable of bringing all those walls down. That is why many psychologists believe that it is important for couples both married and unmarried to discuss the issues regarding money and how they spend it.

Steps to managing your finances as a couple

Define your values

Often, in many relationships, the issue of money results in many conflicts. That is why it is key for couples to discuss their financial values. Should the money be spent in one go or should they have a saving plan? By discussing such issues, you know how to deal with the money as it comes as you have clearly defined your financial values.F

Spending and saving habits

One may like to spend their money playing best online casino games, while the other would rather spend on accessories. Therefore, in order for the love and the peace to survive, there needs to be a consensus. As we know, each relationship comes with sacrifice. Therefore, the bit is for both parties to be able to review their spending habits. Moreover, if need be, let go of some habits.

Be transparent

We know it will always be grandma’s idea to have a secret account. However, as much as this account can save you on a rainy day, make sure that your partner knows about it. This is because even though you get through the rainy day, your partner will wonder what else you are keeping from them. If you are betting on sports, let your partner know, maybe he/she will help you grow your account.

Be wary of background

Just because the two of you have become one, does not mean that the other will stop supporting their family. If your partner was supporting their family before you got together, make sure to discuss the issue. As this too, is a cause of many relationship financial strains.

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