By Maura Attardi
Engagement Insider

Financial advice for committed couples

No matter how much income you earn or money you have in the bank, if you don’t know how to talk to your spouse about money, there’s a good chance it will eventually become an issue.  According to a recent survey, 56 percent of couples who are married, but unhappy, report financial problems are to blame. Money does matter when it comes to having a happy, healthy relationship so be sure to devote time to discuss your financial standing. Here are some tips on how to open that dialogue.

• First, don’t be afraid to share your feelings. No matter how unromantic, having an open and honest discussion about your financial past and future is vital to your financial success. Remember that everyone has their own money style, which has been shaped by their past experiences. Approaching money issues honestly and openly offers a much better chance at having a strong, healthy financial relationship. 
  
  
• Next, make a commitment. No one cares more about your financial security than the two of you. Make a promise to each other to take joint responsibility and take steps to better your overall financial position by paying down debt and establishing a savings cushion. Establishing an emergency savings fund could keep a financial setback from becoming a financial disaster.
  
  
• There’s nothing more romantic than making plans for your future. Set financial goals and vow to keep them. Make sure that your goals are both specific and achievable. Try to set goals that are equally rewarding so that you are both motivated to achieve them. Depend on each other for support and encourage one another to stay focused.
  
  
• Spend some quality time. Schedule a time to meet each month to discuss your financial goals and expectations. Review your budget regularly in order to identify problem areas. Occasional setbacks happen, so try not to get discouraged. Make adjustments as often as needed to ensure financial success.

Finally, the most important money move you can make for your relationship is to embrace your differences. Understand that you cannot change feelings created by a lifetime of experience; instead, try to cultivate the positive aspects of each of your styles. There is no one “right” way to handle your finances and a marriage of your money styles may be the perfect solution.

Source: Money Management International