How to Align Your Money Goals with Your Partner | Financial Wellness

The topic of money can be emotionally charged and challenging for some, but if you want a healthy relationship with your partner, learning how to align your money goals is a significant factor in the happiness and longevity of your relationship. A 2022 study sited that “Finances were the primary reason for relationship conflict in 40% of disagreements reported among people in long-term relationships,” and another that women who reported arguing often with their partners about money were three times more likely to get divorced. 

Having these conversations up front in a relationship will eliminate stress and upset caused by expectations that go unmet because they were not communicated.

Talking about money is important and aligning your goals can bring greater financial harmony, as well as improve the feeling of wellbeing in your relationship. I recommend every couple has a “money date” where they share what they learned about money from their parents.  It will be very revealing and may end up with a lot of shared laughter as well.  It will help reveal issues that may come up in the relationship and allow the couple to address them before they become destructive to the relationship.

Why is money such a big issue in relationships?

We all have different experiences in life. Those experiences shape our views, values and visions for the future. Money plays a big part of that. When couples have different perspectives on money, spending, investing and debt reduction, it can cause friction, which as we said above, has a direct impact on the feelings of wellbeing in your life and relationship.

This is why money can be such a big issue in relationships, and why it’s so important to talk to your partner about your financial situation, your expectations, level of financial literacy and your vision for the future. Then together, make adjustments to align your money goals and build your plan to bring your combined vision to life. 

How do you talk about money with your partner?

It’s important to have discussions about money in a calm and open way, so you can come together to create a financial strategy that works for both of you. That means specifically setting aside dedicated time to talk and agreeing to be completely honest about your finances, point of view and level of financial literacy.

Recognize that there can be feelings of shame around debt or the lack of financial literacy. Discussing how each of you can show understanding and compassion for each other’s past financial experiences, will not only make the discussions easier and bring greater financial harmony, but will also build greater levels of trust and emotional connection between you. 

To align your money goals, in your discussions it’s important to cover:

• Income- current as well as future expectations for sources and amount
• Level of debt
• How to tackle debt
• Past experiences with money
• Family beliefs about money
• Things that are important to spend money on and things that are not
• Division of expenses
• Views on investing
• Risk tolerance
• Desired lifestyle
• Retirement aspirations
• Level of financial literacy

Everyone has different levels of knowledge and experience when it comes to money. The more you can improve your financial literacy as a couple, the easier it will be to create your plan, improve your combined knowledge and increase your financial harmony. 

Aligning your money goals is a key part of building the future you want together. These open discussions about your financial goals as a couple will also make it much easier to have future discussions, creating even more financial harmony and wellness, as you set your financial goals, build your strategy and work your plan. 

To aid in your discussion and add to your financial literacy, I invite you to download my FREE GUIDE to help you Define your Own Personal Success Equation. Regardless of where you are today or what your biggest dreams are, and even if you’ve fallen short of hitting your goals in the past… this equation can help you find your path to success. Then as a couple, you can talk about how you can use your equations to reach your financial goals together.

CLICK HERE TO GET THE FREE GUIDE NOW!