All couples benefit from talking about finances, whether they have just met, are in a long-‐term committed relationship, experiencing financial stress, or are financially happy.
Whilst money conversations are not the sexiest conversations in a relationship, they are necessary.
There is no perfect time to have a financial conversation, and all relationships are different, money discussions are necessary for many reasons throughout a relationship.
It is very common to hear people say, “We should have had money conversations sooner.”
With that in mind, starting financial conversations early in the relationship is most beneficial as it will set up a system of money communication right from the beginning.
As well as specific changes in your relationship, such as moving in together, having children or retirement – there are other situations stated below that would benefit from a financial conversation.
Some examples of when it’s a good time to talk about money:
- You’re feeling uncomfortable about the other person’s financial habits or decisions
- You are thinking about the structure of your banking, want to develop a budget, have some disposable income for spending, etc.
- You are about to make a big decision, such as a holiday, studying or other large purchase, which will impact the family’s income
- You’re personally holding off financial plans because of your partner
Addressing feelings of discomfort is another time when financial conversations are necessary.
It is time to talk with your partner if you are feeling uncomfortable or experiencing any of the situations below:
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