Nothing shines a light on your hidden money habits more than partnership. When you are sharing a life, making everyday purchases and planning a future with a loved one, you will come face-to-face with each of your individual money habits.
More often than not, your views on money, spending and saving, are starkly different from your partner’s. If getting on the same page feels impossible, a cycle can start to embed itself in the relationship:
- Big stormy fights about money can lead you or your partner to withdraw.
- Or you both may avoid the topic entirely, which leads to secret behaviors that drive a bigger wedge in the relationship and prevent you from achieving your goals.
For example, have you ever spent $500 or more without telling your partner? You’re not alone. Roughly 1 in 5 Americans admit to doing so. (And you’d be surprised to know that both women AND men report hiding some type of money behavior—from secret spending to having a secret bank account.)
When your money habits collide with the habits of your loved one, and avoidance becomes the norm in your relationship—it can easily end up costing you tens, even hundreds of thousands of dollars. EVERY DAY YOU AVOID THE MONEY CONVERSATION AS A COUPLE, THE MORE MONEY YOU LOSE AS A COUPLE. It may feel daunting to face your partner and finally begin a money conversation. But, the rewards of saying yes to this process are high- for your relationship, and your personal growth.
MONEY COACHING FOR COUPLES CAN HELP YOU:
- Constructively communicate with your spouse about money, so you no longer jump into fight-or-flight mode.
- Explore each of your unique money habits, so you can understand what’s underneath the “mindless” money behaviors.
- Proactively plan for future expenses (i.e. college fund, retirement, a house) together as a team.
- Find common ground, so you can appreciate your differences, and go further than you could on your own.
- Find your voice, so you can advocate for your personal needs in your relationship, and better connect with your partner’s needs.
- Navigate money conversations as an equal partner in your relationship, and in the outside world.