Do Love & Money Mix?
It is no surprise money is the root cause for most failed relationships. If you and your significant other are not compatible when it comes to finances it can bankrupt your relationship regardless of how much you love each other. It is very important to recognize how your partner views money, and to be able to communicate about finances effectively.
An article on TheFiscalTimes.com explains the 7 Ways Money Can Wreck Your Relationship:
1) My partner has everything under control.
- Don’t think like this! Everyone needs to be on the same page and aware of where money is going to eliminate possible conflict. Also keep in mind that if one spouse is not aware of what is going on with the finances, this can cause major headaches if something happens to the other spouse! Contact us this month for a FREE estate review to make sure your family has an organized financial plan in case of an unexpected death or disability. (Just click the orange “Get Started” button to the right to request a free analysis.)
2) We’ve got the same money values.
- Do not assume you and your partner have the same financial values—communicate your thoughts and understand how the other one thinks when it comes to finances.
3) Combining our finances will be better for both of us.
- It doesn’t matter if you combine your finances or keep them separate. What is important is the communication and agreement on what you both want to do with your money. Again… communication is the key here!
4) It’s better if my partner doesn’t know about my purchase (or my debt).
- No one ever got away with keeping secrets so be open and honest!
5) We already had the “money talk”.
- Life changes and so does your finances. It is important to have continuous open communication about your finances with your significant other.
6) We’ll always be okay.
- It’s the same story here—life is always changing and just because your finances are okay right now does not mean they will be in the future. Having a secure financial plan that considers life’s unexpected events is important and should not be neglected.
7) I should keep my reservations to myself.
- Don’t keep your feelings in! You will become a ticking time-bomb and will make things worse for your relationship. Be as open and honest as possible to make sure every financial issue is addressed which will eliminate future conflict.
Having a rock-solid financial plan not only decreases stress and anxiety but it is the key to having a strong relationship (romantically and financially). Bank On Yourself is a wonderful financial solution we use to help individuals, families and businesses. Bank On Yourself adds predictability, security and peace of mind to people’s lives and future. Don’t waste another minute stressing about money and finances. We challenge you to learn more about Bank On Yourself today! You have nothing to lose, and everything to gain…
Request a FREE no-obligation analysis to assess your finances and find out how you can build a more secure financial future. Click on the orange “Get Started” button below and someone will be in touch with you shortly to schedule your free analysis.
Have a Happy Valentine’s Day!