How to talk about money with your partner

The contents provided on this page are for informational purposes only and do not constitute financial advice. Consider your personal circumstances and objectives before making any financial decisions.

Discussing money in relationships can be challenging, but it's a necessary part of building a strong partnership. 

It may be difficult at first, but with practice and open communication it can help understand one another's financial goals and could lead to  better planning for the future.

In this article, we'll share practical tips and communication strategies that you could use to help you and your partner navigate conversations about money and finances easier.  

Why money talk matters in a relationship

Financial discussions can be the glue that holds a relationship together or the silent stressor in the background.

Recognising the importance of these conversations is the first step toward building a solid financial foundation as a couple.

Tips for starting a conversation about money in a relationship

Choose the right time and setting

Pick a calm, neutral setting where both partners feel comfortable, and choose a time when you're both relaxed and open to discussion.

Express your intentions

Clarify that the goal is to strengthen your financial partnership and work towards shared goals.

Frame it as a team effort

Emphasise that you're in this together and that open communication is key for a successful financial journey as a couple.

How to deal with money concerns in a relationship

Tackle fear and anxiety

Acknowledge any fears or anxieties about discussing finances and reassure your partner that the goal is understanding, not judgement.

Create a safe space

Foster an environment of trust where both partners feel comfortable expressing their views without fear of criticism.

Start small 

Begin with lighter financial topics before delving into more complex issues. This allows both partners to ease into the conversation.

Communication tips for talking about money in a relationship

Active listening 

Practise active listening by fully focusing on what your partner is saying without interrupting. It promotes understanding and prevents misunderstandings.

Use "I" statements

Frame your concerns or perspectives using "I" statements to avoid sounding accusatory. For example, say, "I feel we could improve our savings" instead of "You're not saving enough."

Set common goals

Establish shared financial goals to create a sense of unity and purpose in your financial journey.

Full disclosure

Be open about your financial history, including debts, spending habits, and financial goals. Transparency builds trust. 

Regular check-ins

Schedule regular financial check-ins to ensure both partners are on the same page and to address any changes or concerns quickly.

Stay calm

If conflicts arise, stay calm and focused on finding solutions rather than placing blame.

Seek professional help if needed 

If discussions become consistently challenging, consider seeking guidance from a financial advisor or counsellor. If you’re ever experiencing unexpected bills that may be causing you and your partner stress, consider cashing out with  Beforepay as your safety net to help you get back on track. 

Talking about money doesn't have to be daunting. By using some of these tips and communication strategies, you could turn financial discussions into a strength rather than a source of stress.

Remember, it's a journey you're navigating together. For more information on how to navigate finances check out our financial resource page.

For more relationship and financial insights, check out our blog on the pros and cons of having a joint bank account.

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