KEY TAKEAWAY: Discussions about money can be challenging and cause tension in a relationship. In this video, I share tips that I have found helpful in communicating more productively about money and building a stronger financial foundation together.  Watch today’s video at https://youtu.be/b5JOD8-CKZs.

Do you ever fight with your partner about money?

If you’re like most couples, you probably do.

Not only are conflicts about money prevalent in many marriages, a 2009 study at Utah State University found that:

“Conflict over money matters predicts divorce better than other types of disagreement.”

In fact, up to 90% of divorces are attributed to financial issues.

So, why is talking about money such a minefield?

Because money isn’t just money; there is just so much more going on under the surface when it comes to this practical tool than what appears on the surface. It can represent love, control, freedom, security, self-worth, and so much more.

That makes talking about money that much more difficult because when we talk about money, we’re not just talking about that practical tool that financially supports our lives; we’re talking about something that can affect how we feel.

It touches on how we were raised and the role money played in our lives, the financial experiences we’ve had throughout our lives, and how we feel inside when it comes to those things and our present financial reality.

Even for my husband and I – despite being married since 1993, being very aligned when it comes to money management and our goals, and having had a lot of practice talking about money – money can still be a difficult topic to talk about (calmly).

However, whether we like to talk about it or not, money is an important topic to discuss.

• First, it is a practical resource we need to manage our daily lives.
• Second, it will likely play a role in many parts of our collective vision of the life we want together; most goals require, directly or indirectly, financial resources to achieve them.

Think about it: Where we live, the work we do, the lifestyle we have, our health status, our education, our stress level, and more are all influenced by our financial situation.

That means talking about money.

So, in today’s video, I share tips I have gathered through the years that can help to better navigate what can be tricky financial discussions, something that can not only help get on the same financial page but also help in terms of staying on the same marital page, too.

 Watch today’s video for tips on how to talk about money (more calmly and productively) with your partner.
Direct link: https://youtu.be/b5JOD8-CKZs

Notes:

Fowles, Deborah (2014). Couples and Money. Downloaded April 21, 2016, from financialplan.about.com/cs/family nances/a/CouplesMoney.htm

Fowles, Deborah (2021, July 12). The Complete Money Guide for All Types of Couples. ****Retrieved from https://www.thebalancemoney.com/money-guide-for-unmarried-couples-1289690

I-Fen Lin, Susan L Brown, The Economic Consequences of Gray Divorce for Women and Men, The Journals of Gerontology: Series B, Volume 76, Issue 10, December 2021, Pages 2073–2085, https://doi.org/10.1093/geronb/gbaa157

Institute for Divorce Financial Analysts. Survey: Certified Divorce Financial Analyst® (CDFA®) professionals Reveal the Leading Causes of Divorce. Retrieved from https://institutedfa.com/leading-causes-divorce/

K-State News (2013, July 12). Researcher finds correlation between financial arguments, decreased relationship satisfaction. Retrieved from https://www.k-state.edu/media/newsreleases/jul13/predictingdivorce71113.html

IMPORTANT: The information provided is for educational and informational purposes only. It is not intended to be a substitute for professional advice, diagnosis, or treatment. Always seek the advice of a qualified professional with any questions you may have regarding the topics discussed here as the topics discussed are based on general principles and may not be applicable to every individual. 

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