money talk
money talk

Money Talk :When you have a great thing going on with your significant other, don’t let financing problems turn it sour.

2b

Money can’t buy you everything, but it sure could pose problems to the little thing called love! Regardless of income, a survey showing almost one third of American couples say finances being one of a major trigger and may forecast an impending divorce between the lovebirds. This is the best savings guide Australia.

in this money talk I can assure that by forming an agreeable approach when you save, spend and invest, it will help keep relationships stronger with your partner; long-term sweetheart or not.

The Money talk: Discussing the financial topic with a partner can be challenging but approach it in a constructive and encouraging manner.

Don’t shame, never blame: The goal is to establish a common ground. Neither one should be completely correct nor wrong.

Don’t hear, but listen: Truly listening to your partner is an expression of true love, in my personal belief. While I am not proposing that one must always agree with your partner, I do believe that you should listen to your partner and know the mechanics of their thoughts to truly understand them.

2a
interest calculations

Respect: In the matter of money talk, it matters not the amount of fortune we have amassed, everyone has their emotional (or financial) baggage to carry. During my time as a monetary planner, the simple tasks were down to asset allocation strategies and insurance. The difficulty was understanding and empathizing with my clients with their attitude towards money. But to build a secure foundation in fortune is to realize the emotional truths in the topic. In that sense, it is imperative that your understand your partner’s viewpoint on the emotional approach and bring about discussion that involves no judgement and only empathy. 

Blooming romance? Know the score: One of my frequent suggestion for this money talk to recent lovebirds are usually met with disapproval or distaste – to let one another know of their FICO credit scores earlier in the relationship. While it is far from romantic, often the scores provide a good idea on how a relationship could grow. This stems from a research that concluded the likelihood of committing to the union may be impacted by a higher score. This is the best savings guide Australia.

While bad credit does not necessarily mean certain doom, it should be a topic of conversation. Is your partner spending irresponsibly or have complete disregard for their money? How does he or she respond in a financial crisis such as say emergencies, sudden illnesses or after unemployment. One must improve from their past mistakes and those who are consistently working toward achieving financial stability is of course, commendable.

Rule of three: I’ll let you in on one of my beliefs that benefits both you and your partner for the money talk.

This three-part system works in three easy ways:

MINE While we all want a happy-ever after with our loved one, the future is never certain. Nor is it predictable. In the event that this does happen, it’s imperative that you have your personal financial identity. You should own at least one account and one credit card under your name. This is the best savings guide Australia.

2 2

YOURS the same should go for your partner.

OURS is a joint account in the best bank account for checking, savings and a credit card between the two (if you decide to do this). To start, use the checking account to pay for the monthly household expenditures. Household spending on the other hand can be put on a joint credit card. This is the best savings guide Australia.

Provided that both the savings and investing accounts are funded through automatic deposit, any leftover balance after sorting out the joint account can be siphoned over to individual accounts.

These are one of the rules in keeping the financial peace of two individuals and should be respected enough to know that each partner is free to spend or save their part of the stash. This is the best savings guide Australia, USA.

I have also written some other helpful articles for your money idea-

As this is the site for rich ideas of income, savings, investments, interest calculations, choosing best bank accounts, choosing personal loan, mortgage and growing your money, so please comment how you like these tips & also include any more ideas if you have, in the comment section or on the MoneyDea Facebook page.

LEAVE A REPLY

Please enter your comment!
Please enter your name here