When it comes to being in a relationship, it can be tricky enough without having to speak about money. Many couples do not usually speak about money, when in fact a conversation about money is one of the most important conversations you could have.
A lot of people find it hard to start the conversation, especially around seasons such as the festive season, when they want to make big purchases such as buying a house and when money is just straight up tight. Nobody wants to look like the ‘broke’ one. Money can be a tough topic, but it’s best to be honest from the beginning.
Here’s a few tips on how you could start the sensitive conversation, and what you could talk about:
Tip 1
Express how you feel
If you feel like a lot of the financial burden is on you, it is important to let your partner know how you feel.
For example, if you find that you are paying more than half of the bills, but you are both earning around the same, you may want to address this.
Tip 2
If you can’t afford it, say so!
When it comes to your partners birthday or holidays such as Christmas, if you can’t afford gifts, let them know. If you are not able to factor gifts into your budget, don’t force it. They should be able to understand that you do not want to be left in the red. This also goes for date nights and any other occasion.
Tip 3
Set out a budget, as a couple
When budgeting for household bills, nights out and any other joined ventures, it may be best to do this together. You can both calculate how much you can afford every month and then distribute the funds amongst expenses.
Tip 4
Talk about debt
Nobody really likes to talk about debt but keeping it to yourself could make it worse – especially if you are struggling to keep on top of repayments.
Speaking to your partner about debt may open up doors, such as finding out that they are able to help you clear debt
Tip 5
Open a joint account
If you’re in a long-term relationship, you may want to open a joint account. Of course, look do your research and make sure you trust your partner with money beforehand. A joint account means that your joint bills, nights out and other joint expenses can come from one place. You’ll be able to keep track of your joint expenses in one place.
Also, if you are saving for anything such as a holiday or house deposit, you can save in the joint account where you’ll be accountable to each other (you can see what they’re really saving).
Overall, speaking about money with your partner will help you come together and make decisions, learn from each other and keep the peace when it comes to money.
Don’t know how to start the conversation? Send this to your partner to read. They should get the hint.
NikkitaAmina 