Finance Discussions Help A Relationship
Relationships become very stressful because of finances. The Great Recession has made this stress worse. Studies have shown that couples who argue about their financial situation end up splitting up very often. Money destroys relationships. But here’s some relationship advice- Financial strategy can enhance a marriage or partnership. Trouble comes from not talking about the money despite the fact that nobody wants to really talk over it. Source for this article – Relationship advice- talking about money is a good strategy by Personal Money Store
Couples keep away from talking about money
It makes sense that a survey by American Express Spending & Saving Tracker shows 91 percent of couples avoiding the topic of finances considering one of the most stress for one third of all couples comes from money itself. The Wall Street Journal reports by Ruth Mantell that many people know more about their spouse’s weight than they do about how much that person makes at their job. Couples now are talking about money more since financial strategy has become so much more important.
Relationships do better with financial strategy
It makes sense that most couples don’t want to talk about their finances. The survey by American Express shows that fights were started by money conversations 45 percent of the time. Emma Johnson at Forbes thinks that working together on finances will help a relationship. The way a couple approaches personal finance, saving, spending, earning and investing can really be points of bonding and affection.
Bad times makes for arguments
It is really hard to bond over personal finance. A survey of 1,000 Americans was done by StrategyOne that showed 77 percent changing their life because of the Recession. Americans tend to be unhappy, and even angry with individuals around them. The recession is causing individuals to delay getting married, having children or retiring.
Beginning the money topic
The StrategyOne survey also found that more individuals are also putting off getting a divorce for financial reasons. So maybe that buys a while for couples to work on their personal finance situation. Mantell suggests five things couples should do. The first thing is to start talking about things. Changes are easier when these couples are working together. Couples should talk about spending. You may just have to cancel vacations and look for a new job.
Focusing on money as a team
Couples not facing sudden financial stress still bicker about money. The Forbes article by Johnson shows relationships being better when working together with money. If the couple knows about each other’s spending habits, the relationship could get stronger. Delegating money tasks is another way to build trust and improve communication. If both partners agree on goals about saving, spending and returns on investments, maybe they’ll eventually be celebrating that golden anniversary when the Great Recession is a distant memory.
Sources for the article
Wall Street Journal
Emma Johnson at Forbes
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