Whether you are getting married this summer or fall or moving into a committed relationship, making and keeping promises to each other are the cornerstone of a successful relationship. There are a few financial vows that couples should exchange as they move into their life together.
How can exchanging financial vows help a relationship?
Money problems are cited as the top reason relationships have difficulties or fail. Most of time it is caused by not talking about money and the best way to talk about money regularly is to agree to a set of financial vows that both people agree are important.
What is the cornerstone of a successful financial relationship?
It starts first with agreeing that they will make all financial decisions together as equal partners. If one is given all the responsibility or takes on the final authority role, the relationship is bound to have issue. The best way to solve this problem is to develop short and long term plans together.
What can couples do to keep their financial feelings in synch?
Make a vow that they will discuss financial matters regularly including progress on plans and ways both can help achieve goals. Establishing a regular time to talk about money is a great way to have meaningful conversations about financial matters.
Is there a vow that you believe is most important?
Without a doubt is agreeing that they will both compromise on their financial ideas in the best interest of their shared life. This means giving up some of your independence and viewing that making each other happy is the ultimate goal. If both feel this way then it is very likely they will happy and compromising won’t feel like losing.
Why is this so important?
Compromise is extremely important in financial matters because without it, resentment will grow and eventually money discussions will become money arguments which can lead to even greater relationship stress. And when there are money issues, this divide can grow even wider creating a chasm that can be bridged.
What is vow that you feel is a great way to strengthen a relationship?
Agreeing to build a fun money savings account is a great way to develop a strong financial relationship. Couples will tangibly see how working together to reach a shared goal is rewarding plus they will build a memorable experience at the same time. And they will be more likely to talk about financial matters when it is a more fun subject.