Stop Money Fights Before They Start – Couples And Money: Part 2

By on November 11, 2012 No Comments

If you haven’t already figured out if you’re the spender or the saver in your relationship, take a look at our article about it here.

Regardless of what role each of you play, money will probably be a contentious issue at some point in your relationship, and unresolved issues relating to it are one of the leading causes of divorce.

How To Start Every Conversation About Money

Scream “But I want it NOW” at the top of your lungs.

Just kidding.  That might be your kid’s strategy, but it shouldn’t be yours.

As a partner in a committed relationship, money represents every choice that the two of you make.  Money and how you spend it (or don’t) is one clear representation of the joint priorities and goals of your entire relationship.

Whenever an issue comes up regarding money, rather than trying to convince your partner that they should or shouldn’t do something – take a step back.

This Conversation Is About Your Entire Future

Every dollar you spend is a dollar that can’t go towards another goal that you two have.  So when you disagree, you have to take a step back and ask how this decision will affect your broader goals.

If you have a goal to travel later in the year, then you might not be able to buy that new TV today.  If you have a goal to pay off your credit card debt before December, then going on that vacation might not be in the cards.

What Are You Both Working Towards?

It might be hard to pull away from a heated money argument to say “Wait, honey, let’s think about retirement for a second”.  But try it.  Does that TV REALLY fit in with your goals and priorities?  Goal setting is crucial for a successful relationship.  What’s the point of being with someone who wants completely different things from you?

More importantly, how can it work out?  If you want to settle down with a home and a dog in the town where you grew up and she wants to start an organic farm in Peru, you’re going to have some problems.

If you want to live debt-free and save enough that you can provide your children the type of life you never had and he wants to buy a new car every three years, you’re going to have some problems.

Having common goals means you both waking up facing the same direction.  Choices become easier and arguments become more productive because you both want the same thing.

You Can Have Anything, But You Can’t Have Everything

This expression is one of the most powerful motivators/reality checks when thinking about personal finance.

The key is learning to deny yourself with humour.  As your friends are thinking you’re crazy for not upgrading your 15 year old car, you have to be able to smile and know that what they’re putting into car payments, you’re putting into your financial freedom.

Having a partner to smile along with will help immensely, and it’s this attitude that can prevent money fights from happening.

Setting Financial Goals

You can’t make up your goals in the middle of a fight – you have to have them set ahead of time.

Read our next article on how to set financial goals as a couple.


Having the Money Talk with Your Romantic Partner

By Rubina Ahmed-Haq on March 16, 2017

Money is one of the major reasons couples fight.  A study out of Utah State University found that couples who fight frequently about money are more likely to get divorced. That’s compared to any other issue they might fight about, child rearing, their love life and household chores (as an example.) Before your relationship moves to…

How to Save on Heating Costs, Even as a Renter

By Jordann Brown on March 9, 2017

One of the best ways to free up room in your budget to pay down debt is to trim your expenses. There are plenty of ways to trim your budget, but one often overlooked method is to reduce your utility costs. Home heating makes up 42% of your home’s overall energy use, and drain your…

5 Tax Breaks You May Not Know About

By Alyssa Davies on March 2, 2017

We’re getting closer to the time of year when the Canada Revenue Agency awaits your annual income reports. From there, they will determine whether or not you are income tax receivable or income tax payable. What’s the difference, you ask? Income tax payable means that you must pay the government within one year, and income…

10 Personal Finance Bloggers Share Their Best Money Advice

By Alyssa Davies on February 20, 2017

Every financial situation is unique and unlike others experiences, which is why every piece of information you can absorb during debt repayment will help. I know, I know, you’re tired of hearing the same old instruction from the same old places. So instead, we decided to see what others (who have been through similar circumstances)…

No Comments Leave a Comment  

Leave a Comment

Free Savings Estimate

How much do you owe?


Live Chat
Welcome to our Live Chat
Agents are not available at this time. Please leave a message. Thank you.
First Name
Last Name
Postal Code
Debt Amount
PHP Live! powered