Written By MFA
When you finally meet your dream partner and start dating, chances are high that you may be too carried away by the love and happiness you both share to the extent that you forget to discuss crucial topics such as financial planning.
The issue of finances should be discussed early on in serious relationships as it is a basic building block to stability in relationships and family.
Your Money Personality
There are 5 money personalities which include; the Security Seeker, the Saver, the Spender, the Flyer and the Risk Taker. Each of these personalities has its own strengths and weaknesses.
Imagine being in a shopping mall at Ikeja and a pair of shoes you have been eyeing online for a while is displayed for sale.
What would you do? Do you buy the shoes on the spot or do you walk away to give yourself sometime to think the purchase through? We all relate to money differently depending on our background, our current income and financial health.
What does money mean to you? How do you behave when it comes to expending money or even saving money? This behavior is what is termed as your money personality.
The Security Seeker: You see money as a form of security and you are averse to any form of spending. Having money gives you security.
The Saver: You prefer to save as much as possible even to the detriment of current needs and wants.
The Spender: You spend at will. Spending makes you feel important and loved.
The Flyer: You don’t think much about money. It’s a means to an end and not the end for you.
The Risk Taker: You are always willing to take risks especially where money is concerned.
For instance, Spenders are generous and tend to lavish gifts on their partners. When not watched, this habit can run them down. Once you know your personalities, you can find ways on how they can complement.
Your Current Financial Situation
Knowing where you stand financial-wise is a healthy discussion you need to have because financial infidelity brings relationships apart more than marital infidelity. Talk about savings, retirement, debt and investments by projecting from where you stand currently.
Outline Your Financial Goals
As a couple, you need to dream together. Take time to talk about your financial goals such as owning a home, investing, traveling and support for important causes. You don’t necessarily have to sort out the details but allow your goals to flow together. This conversation helps in laying the foundation of healthy communication and less conflict on money matters.
Combining Your Finances
Depending on your preferences, you may decide to combine your cash streams to enable you carry out pre-wedding projects such as renting a house, buying a car etc. Remember finances are closely laced with trust hence you need to engage in a healthy debate on how to handle your finances.
Create And Adhere to the Budget
As a couple you should both set a budget to guide your monthly expenses and even your wedding expenses. Learn to adhere to the budget as this will reveal financial shortages if any.
Read a story today on a blog where the husband divorced his wife after 2 days of marriage. Apparently she had used all the budgeted amount for the wedding to buy her wedding gown! She had then after spending the money went round begging for funds from her neighbors and friends.
Remember that relationships thrive where there is trust. No matter your money personality ensure you don’t go against financial agreements already made with your partner. Ensure there’s openness and transparency in your financial dealings with your partner.
Writer – MFA blogs at Lifetitudes.com a blog that focuses mainly on inspiration and motivation. On the blog you will find posts that aim to stimulate self-evaluation towards affecting positive change in your relationships and life in general.
Facebook – facebook.com/lifetitudesblog
Twitter – twitter.com/Lifetitudes