When me and Mr. MFB were dating, we never discussed about money. It seems very awkward to talk about money when you were just getting to know each other. We were so focused on eating out, movie dates that we did not talk about money and finances. However, as years passed by and when our relationship got more serious, that’s when we realize that we need to mind our expenses as a couple. We saw the need to talk about our finances. This article shares about why couples need to talk about money and finances.
Why Couples Need to Talk about Money and finances
Money is such a taboo topic in many individuals and families. It seems that money does not matter as long as people in the family love each other . For couples, money issues are overlooked most of the time. Many couples believe that love can overcome any life’s imaginable obstacles. However, as responsibilities grow and financial liabilities pile up, couples would realize that loving each other is never enough.
Couples need to talk about money to:
- Set financial priorities
- Manage financial expectations
- Decide on the type of lifestyle for the family
- Set clear rules about handling family’s finances
- Plan on ways to save and invest and grow the family’s networth
- Avoid conflict caused by money matters that will likely break marriage
Opposites Don’t Attract When Comes to Money Matters
Opposites do attract but not two individuals when it comes to finances. Argument can ensue when one is a saver while the other one is a spender. One likes delaying gratification while the other one is the YOLO type who always declares “You Only Live Once” and mindlessly spend. One does not mind spending on credit while the other patiently saves in order to afford what he/she wants. This can be a cause of friction between couples and can eventually lead to divorce.
Money Creates Stress in Marriage
According to a survey conducted by a bank, money is the leading cause of stress in relationships. A significant number of people are experiencing relationship stress due to finances. Differing views and values of couples about money can cause friction in the relationship.
Love makes the world go round. Money, of course does not buy happiness. There are countless people who are so rich yet they are unhappy and experience breakage of relationships. However, money is the fuel that runs the engine of our daily lives. Earning enough money and managing it effectively and efficiently is necessary for a family’s well-being. That is why couples need to talk about money and finances.
How about you? Do you talk about money in your family?