10 Tips For Finances in Your Relationship
Do’s
by Craig PJ
1. Listen to your spouse—do you ever know what they’re going to say before they’re done saying it?…And in your head you’re already answering what you think they’re going to say before they’re done saying it. Bad idea, and terribly rude. I’m HORRIBLE at this. Be patient and listen—REALLY listen—to what they’re saying…it may surprise you!
2. Be honest—I know it’s hard to talk about finances sometimes, particularly when it’s about bad news, but chances are your partner is going to find out anyways and it’s better if you just come out with it.
3. Keep updated—Usually one person handles most of the finances and they should keep the other informed about what’s happening and where they’re headed. Similarly, you need to try and keep yourself informed if you don’t. Don’t place that responsibility on partner.
4. Work together—I know there are fitting quotes out there but I don’t have one. I do know that you can’t accomplish anything financially alone. The more you work together the more success you’ll have
5. Be open to change—Here’s a great article by Trent at The Simple Dollar about the costs associated with not looking for ways to change. This is a HUGE way that my wife and I have saved money, and one of the best money-saving tips ever.
6. Be on the same plan—Pinyo at Moolanomy writes about creating S.M.A.R.T. goals. Do it and do it together. That way, you can hold each other accountable and make sure that your resources are focused towards the same goals. Calculate your Net Worth with online tools such as Net Worth IQ and watch it improve monthly. Seeing how your actions connect to your goals and your overall financial health is incredibly motivating.
7. Be informed—The more you both stay informed about financial matters, the better decisions you’ll make together and the less conflict you’ll have. Maybe you need to get educated together?
8. Budget for your relationship—Make sure you include money in your budget for fun things to do with each other. This doesn’t mean you need to go overboard, but you don’t need to stay home all the time either.
9. Be patient with each other—We all make mistakes. Period. Do it so that when you make one you get the same treatment. It’s GOING to happen!
10. Celebrate achievements—You deserve it! Go out for a night on the town and enjoy the time together.
What do you think? What are the other techniques you use to improve your financial and relationship help? I’d love to see them in comments and emails. Come back tomorrow for 10 things you should avoid!
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Being patient with each other is the most important thing. There will always be disagreements. With my own marriage, I have found that our budget only works when we really are on the same page for the current paycheck. Otherwise something always happens.
Also, planning room in your budget for emergencies, forgotten birthdays, anniversaries, etc. is really important. Those things always come up, every month without fail. Even if you don’t know what it is going to be, planning a little cushion in the budget keeps us from having to use credit cards for those types of things.
Celebrate achievements is something we probably need to work on. That sounds like a fun tip, thanks!
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