Whether you’re getting married, you’re recently married, or you’ve been married for years, finances play a massive role in your relationships.
Before we go any further, let’s start with this. In any relationship, open and honest communication is key. This applies to so many areas in a marriage, but it is especially important when it comes to shared finances. Strong communication creates financial alignment, trust, and transparency, helps eliminate conflicts before they begin, and prepares couples together to face emergencies. It’s also key to creating budgets together, planning for goals, and approaching major purchases as a married team.
Having conversations about money as a married couple can also feel daunting. Financial conversations can come with emotional baggage, challenging individuals’ attitudes toward money, budgeting, saving, and spending. At the same time, talking about money can bring up fears, past financial mistakes, and an overall lack of financial education.