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Money habits of happy couples
February 11th, 2021 by Katie Weber
It will come as no surprise to you that money is one of the top causes of divorces, so what good money habits can you learn to help your relationship last?
Talk about money.
For many couples, talking about money is a complicated matter. Money is a sensitive topic. It brings up feelings of incompetence or guilt. These feelings usually stem from either not having sound knowledge of your finances or having poor money management skills. The goal is to overcome these feelings by communicating openly with your partner, setting aside time to discuss your financial situation, and setting achievable goals.
Start an emergency fund.
Financial uncertainty can put a significant strain on a relationship; following a budget and creating an emergency fund will provide the feeling of security and comfort. It doesn’t mean you deprive yourself of anything to have an emergency fund. The goal is to budget wisely, eliminate unnecessary spending & take steps to start your emergency fund.
Know your strengths and weakness.
Knowing your and your partner’s financial strengths and weaknesses will allow you to overcome barriers and achieve your financial goals. It will enable you both to have financial responsibility that doesn’t feel like a chore while still taking care of your finances. It is an excellent opportunity for you both to continue to learn and grow your financial knowledge.
Set up monthly money dates.
Setting up a monthly date to sit down and discuss your financial situation can seem intimidating. Doing these monthly will soften the hard edge of the topics and remove the surprises that can come with the subject.
Take an hour once a month to sit down and discuss your goals, debts, and long-term and short-term goals and your progress towards them. Tackling the tough topics together will allow your money to keep flowing in the right direction and make real positive changes.
Find things to celebrate
Finding time to celebrate the positives in your relationship is necessary. Telling your partner how important they are to you doesn’t cost anything. Financial wellness comes from admiring all the good your partner brings into the relationship and not getting caught up in the things holding you back.
Remember, a relationship is a team effort. You need to continually work together, adapt, and grow to make things work. Talking about your finances is a necessity that you cannot overlook.