Lifestyle

Managing Money in a Relationship

Studies have found that money issues end more relationships than cheating.

Being on the same page about money and finances is so important in a committed relationship. Frank and open communication can make all the difference between happiness and despair. Don’t forget that none of us are perfect in our spending habits, but with a little compassion and wisdom, we can still make sound decisions. Here are a few tips on how to approach the subject of money in a relationship, so that both people are happy and feel heard.

The most important idea to guide money communication is honesty. It is never too late to be honest about where your money is going. This doesn’t mean that you necessarily have to account for every coffee, or stationary item bought, but both parties have the right to know what amounts of money are being spent over time. This prevents misunderstandings and the temptation to ‘hide’ purchases from one another.

The next key point is planning. It is vital to have regular meetings about money. This means that both people are aware of what bills are due, what money is available and no-one feels like they are being left out of the loop. From here you can plan ahead and be in control of what is spent. Be wise though, choose low-stress times when no-one is tired, and neither person is feeling sensitive about other issues.