How to Handle Finances in a Relationship
Posted on by Destiny Girard, LMFT
Finances are one of the most common complaints that couples bring to therapy. Many times, both partners have different views on money, and it is because of these views and beliefs that they do not see eye to eye on finances. The way money is viewed and managed is largely influenced by the way that individuals were raised, beliefs that their family of origin held about money and the economic situation that they have been in throughout the course of their life.
It is important for couples to sit down and have conversations about how they view and spend their money. Couples need to discuss their financial goals for the future (i.e.: buying a house, having children, retirement, etc.), as well as their personal assets and financial expectations for the relationship. Creating a joint financial plan that outlines all of this information can help to ensure that both partners are on the same page with how their money is spent and can assist the couple in working towards their goals. This financial plan should involve not only goals and major purchases, but also should include a budget for household bills and day to day spending. Discuss with one another what amount of money is important to save, what you are both comfortable spending on extracurricular activities and what percentage each of you will be paying towards bills.
If you or your partner struggle to discuss financial plans and are finding that this is a source of frustration in your relationship, it may be time to contact a professional. A marriage and family therapist can help you and your spouse by teaching you effective communication styles and how to address hot topics, such as this one. Financial planners may also be a useful resource, as they can take the time to meet with you and your partner to review your financial situation and goals.
Sign up for a free trial of the Marriage In A Box online tracking tool!