The cards, the flowers, the cake, the extravagant gifts with a perfect candlelight dinner are all sweet and charming ways to please your partner and with Valentine’s Day coming up, most of you would be busy planning for the perfect gift with the perfect date for your partner. Ever wondered about gifting something to your partner, which is more meaningful and rewarding?
Well, this valentine instead of buying gifts, sit with your partner and design your financial vision board, to excel in your financial goals as a couple. Matters relating to money are the number one reason for conflict and stress in most of the relationships in today’s time. Thus, addressing the issue rather than avoiding it is of utmost importance.
Here are a few tips to help you build a strong financial union with your partner-
Have healthy conversations about money
Communication is the key for any relationship to flourish and financial matters are no different. And even though it may sound unromantic to spend your valentine talking about money matters, it may be the perfect opportunity to set the ball rolling. Having healthy discussions about spending, saving, achieving future goals can help deal with potential problems that can arise later in your relationship.
Also, communicating about money matters is an ongoing process, so look at this valentine as a start of your financial journey together and keep the conversations flowing.
Focus on creating joint financial goals
We all have dreams and aspirations and we wish to achieve them at some point in time. Couples should work together as a team and set financial goals to carve out their plan to achieve them. Not only will it keep you motivated, but also ensure that you achieve your goals faster. Setting short-term and long-term goals together will help you understand how much you need to save each month to achieve specific goals and make it easier to save for these goals.
Create a budget
When you create financial goals, you need a structure to support your goal. Making a budget is the foundation of your financial goals. Sit down and make a budget to ensure that you spend responsibly and not living beyond your means. Budgeting will also encourage you to have more open conversations about money. Once you get an idea about your expenses, you will be able to get clarity on your savings and can chart out investments to achieve your financial goals.
First and foremost, it is normal if you carry some sort of debt, what is not normal is hiding it from your spouse. Whether it is a student loan from the past or a credit card debt, having open and candid conversations about it with your partner is important. You can build a strong financial foundation only if you have clarity about each other’s debt. Not only will it help you tackle the issue together, but it will also help build trust, which is the pure currency of your love.
The Final Word
Talking about money, even if it is with your life partner can be intimidating and even upsetting, but if you focus on keeping the conversation positive and aspirational it will help you work towards your financial goals together and make the journey pleasant and memorable. So, if you haven’t talked about money before, this Valentine could be the perfect time to start the conversation that would last for decades.
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