Show Me the Money: 6 Mistakes Couples Make
Money is one of the most common sources of conflict for couples. A recent poll suggested that nearly three-quarters of people said money caused stress in their relationship. Below are six common mistakes couples make when it comes to finances, and what you can do to avoid them.
It’s understandable that talking about money can be uncomfortable. Many couples avoid it altogether, hoping that silence will smooth over the tension. But avoiding the conversation is a big red flag. Failing to discuss finances causes more conflicts than it avoids and often breeds future problems.
In fact, leading divorce attorneys often cite money disagreements as the second most common cause of divorce, right after infidelity. How you and your partner handle money is a clear reflection of how you handle challenges together.
What to do instead: Start small. Schedule a time—just as you would for an important meeting or exercise class—and commit to sitting down and talking about finances. Have this conversation regularly, whether weekly or monthly. By consistently addressing the topic, you’ll avoid bigger problems down the road.
Too often, couples think that a spreadsheet is all they need to solve money issues. They assume it’s just a matter of balancing numbers. But the truth is, money is emotional. Many of our financial habits stem from our upbringing and background, which often shapes our attitudes toward spending,........
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