“Relationships & Finances…. Who, Where & What?”
by Coach Dee
In today’s complicated society . . . finding and meeting that special someone is like “finding a needle in a haystack”. But, once you have entered into a committed relationship; outside of navigating the delicate paths of communication, trust, vulnerability and intimacy . . . money issues are in the top running in creating seemingly “deal breaking” tension in any relationship; novice or veteran.
Deciding in the beginning whom in the relationship is the strongest in financial budgeting or financial management is key in offsetting any “unforeseen” roadblocks that may appear. If your mate is spot on in creating a budget that will put a Corporate CFO to shame . . . then by all means release control of wanting to handle that just because you were used to doing it for yourself when you were single. The goal is to be “successful” and fiscally responsible with the household income. Not to “compete” with your mate.
Deciding how you will set up or arrange accounts for household management and or extemporaneous expenditures is also a goal to stave off unnecessary heartache when it comes to successfully manage your financial needs at home. How much, which paycheck and where you will place the funds creates a sense of planning and partnership that also adds to “intimacy” and bonding around the health of your relationship.
Deciding in the initial stages of a committed relationship on discussing how to handle individual debt and payment of bills/expenses is an absolute must to limit the frustration that could “blind-side” the most wholesome efforts at having a wonderful relationship. An open discussion of credit card debt, school loans or even shopping habits (if you are a splurger) is necessary and it creates a sense of trust and partnering in the goal of having a debt-free or debt friendly situation in your relationship.
Having a great relationship is a wonderful goal in today’s society. But having one with a great financial plan and future is even BETTER!