Happy couples talk about money

This article was originally posted on www.freyapoynton.com

 

Eight useful tips that you can read in less than 3 minutes on building fair argument proof money strategies.

Happy couples identify themselves as a team, ‘it’s us against the problem’. When dealing with money treat each other as business partners, remove emotions and sensitivities. Have trust and respect each other’s feelings, knowledge and values. Be upfront about your weaknesses and offer your strengths and abilities.

1. Write down the kind of life you want to live and what makes you the happiest. Ask your partner to do the same.

 

Define them, discuss them, prioritise, negotiate and support each other’s goals. It might feel a bit awkward at first if you’re not used to talking about money. That’s ok. Talking about goals can give you a better understanding of what you both want and how to get there. Remember that it is normal for some of your goals not to completely align. If you ask your partner to compromise be willing to do the same for them.

 

2. Decide on a fair and reasonable weekly amount for ‘fun’ money for items like restaurants, coffees and clothes

 

Generally, female’s expenses are a little more because beauty doesn’t come for free! Either take the cash out each week or have individual accounts just for ‘fun’ money. Use a joint account to pay for weekly groceries, bills and other necessities. Agree to contribute a fair amount each.
 

3. Set up join ‘goal accounts’ for any big joint goals you have together

 

Your big joint goals could be either holidays or a house deposit. Set up a direct debit into these accounts each pay. Keep your assets separate where possible.

4. If you have joint credit cards and loans you are both responsible for the debt, irrespective of who racked it up.

 

Get rid of the credit cards and stick to your weekly personal spending.

This article was originally posted on www.freyapoynton.com


 

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