When you’re in a relationship, money issues can be a deal breaker. Yet they don’t have to be. By working together to build a shared financial vision you can resolve and prevent disputes over money. Most fights involving household finances stem from a lack of trust. Your partner will never think, feel, or react to situations the way you do but that doesn’t mean they aren’t as invested in the relationship as you. The first step in ending money disputes is to respect one another’s differences. You also need to acknowledge each other’s past. 

No two people had the same childhood experience. Your parents may have worked hard while barely getting by. Your partner’s parents may have been wealthy. If that were the case it would be understandable that your feelings regarding finances are contrasting. It’s not fair for you to expect your partner to understand where you’re coming from – or vice versa - there needs to be a middle ground. Finding that middle ground will take communication.

Open communication can solve most problems. It’s certainly necessary when two people are attempting to end regular disputes and build a shared financial vision. Schedule a chat session when you are both relaxed and better able to actively listen. Express how you feel and give your partner an opportunity to do the same. Don’t focus on negatives – list the positives of your current financial situation and then discuss areas that you would like to improve. Ask your partner to do the same. Then create a joint spending plan. If you need help, contact us.

At Alloy Wealth, we help clients create spending plans as part of a comprehensive written financial plan. We work with individuals and couples and would love to help you come together to build a shared financial vision. We will help you better define your goals and show you can achieve them. Call 800-689-3935 to schedule an appointment.