For the Love of Money
Taylor and Travis, Zendaya and Tom, Jen and Ben (the second time). These famous couples have their own love story and although they may not have to worry about their partners’ finances, money plays a big role in relationships. It’s the month of love and we couldn’t resist not talking about love and finances. Why you ask? According to an article by Ramsey Solutions, couples who argue over personal finance issues were 30 percent more likely to get divorced!
We get it, finances can be a sensitive topic, but open and honest communication is crucial for a healthy and successful relationship. Consider RVCU the Cupid of credit unions. We are here to help you navigate financial conversations and provide practical tips and strategies for discussing money matters with your significant other.
From setting financial goals together to addressing potential challenges, we'll guide you through the steps to foster a strong connection and build a secure financial future as a couple.
Begin the discussion with empathy and understanding. If there is one thing to remember it is that everyone’s had their own journey and have been raised to view money differently. Finances, in general, are an emotional topic but the sooner these conversations begin, the better. Early on in relationships, talking about budgets for dates or who is paying for what is a great way to bring finances into the picture.
Be my Love Bug:
Talking about dreams and goals as a couple can be exciting. Identify what short-term and long-term financial goals you have as a couple and make sure both of your values align. A great place to start is to create a budget together. We love this Create a Budget resource from our friends at Banzai.
The key to my heart is the truth:
Ever notice how much better you feel after you’ve shared something honest about yourself? Trust us when we say that sharing information about income, debts, and savings with your partner will feel great and lead to better communication. Have student loans or other financial commitments? Work as a team to tackle any existing financial challenges. Discuss major purchases before making them and agree on a spending limit for significant expenses.
Swipe right on RVCU:
Make a date with one of our cupids, we mean Certified Financial coaches! Meeting with a coach is free and confidential. Counselors can provide personalized advice and educational resources to enhance your financial literacy. Get started with a virtual appointment today.
Open and honest communication about money can strengthen relationships and pave the way for a more secure financial future. By approaching financial conversations with empathy, setting shared goals, and working together to overcome challenges, you and your boo thang can build a relationship that thrives both emotionally and financially. If you’re not sure where to start, let RVCU be your financial matchmaker.