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How to discuss money matters with your spouse

By: Louise Mosqueda0 comments

When you find the person, you want to spend the rest of your life with; you need to be open about everything. That includes talking about your money matters.

Money matters

For a relationship to work, you need to be open with your spouse and tell each other what the other is thinking. It’s a lot easier to talk about your day and work rather than about the family budget and other money matters.

But discussing money is essential, especially if you are looking to make joint purchases like a house or a car. If you’re having trouble doing so, here’s how you can get on the same page with your spouse about finance.

Share stories about your experiences with money

You and your spouse grew up with different views on money. The way you grew up with money shapes the way you handle it today. That is why it is essential that you know how each other will behave when it comes to finances.

Make each other understand how you handle your money. That way, you can make adjustments as you see fit.

Don’t keep money secrets

One thing you should never do is hide money secrets from each other. That includes secret purchases.

Doing so could cause your spouse not to trust you, and in turn, they will keep secrets from you. So, it’s always best to be open about it with each other from the start.

Discuss budgets together

When you’re married, you need to create a joint budget. It’s important to discuss the necessities and how much you both need to contribute to the budget each payday.

Talk about how each payment and remind each other of payment deadlines to avoid any late fees. In essence, have each other’s backs and try your best to stay within the budget you put together.

Listen to their concerns

Don’t be afraid to tell your spouse about your money concerns. In turn, you should also listen to them when they tell you theirs. Listen to what they have to say. Whether it’s needing to lessen the budget or consolidating on luxury purchases like Foxtel, talk about it; especially if you or your partner think that there could be a way around your current financial situation.

Listen and hear what their concern is, and be sure to make them feel that they are listened to. You can do that by listening and not interrupting.

Keep these ideas in mind when discussing your family’s income with your spouse. Keep it open and make sure everyone feels heard to avoid conflicts.

When all is settled and going well, you can then look to apply for a joint car finance deal through Alpha Finance to finally get a car that both of you can use for either your family business or personal use.

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