Every year, people stress about what to give their special person for Valentine’s Day. Flowers? Chocolates? Candlelit dinners? Almost no one considers a retirement projection or an investment portfolio allocation! However, money issues are the leading cause of divorce. Good communication skills about finances are important for Valentine’s Day and all year. Here are some tips.
- Talk about money when you aren’t already tired or busy. Never use money as a weapon when you are angry about something else.
- Value each other’s financial goals and dreams. Talk to each other about the future, which inevitably has expenses.
- Be on the same page when you talk to your children. Kids shouldn’t stress about family cash flow, but they can understand that money isn’t limitless. Respect your partner if he or she tells your children they can’t have a desired purchase.
- Create independent spending money. This avoids the need to explain shopping trips or eating out at work.
- Make financial decisions together, and review mundane money activities. If you both know the bills, either can pay them, and it would assist a surviving spouse.
- If one of you has a money belief the other finds unusual, talk through it. These patterns are often established in childhood and can be challenging to change.
As the French say, Vive la difference! Value the differences between you and your partner. And maybe, also, pick up some flowers or chocolates before Valentine’s Day.