Whether you’re about to be married or have recently said “I do,” there are a lot of conversations to be had. Discussions about your future, about your relationship, and even what you want to do for your wedding or honeymoon are all common at this phase of your life. But there’s one thing that many people don’t want to talk about with their beloved: money.
Why You Should Be Talking to Your Partner About Money
Study after study shows that money is the second reason people get divorced and the #1 reason couples fight. It’s a normal phenomenon, but it doesn’t have to be. In fact, talking about money early on can help bridge those gaps and prevent disagreements down the road. Talking about money doesn’t have to start with a strict budget or hashing out your financial mistakes, though. Instead, talking about money can start with:
Discussing your wedding budget
Talking about your honeymoon goals
Sharing your income or savings goals
Talking about big purchase goals, like buying a house or saving for kids
Of course, one of the biggest hurdles with these discussions is learning how your spouse or partner talks about (and interprets conversations about) money. That’s why we focus so much on communication styles and how to avoid conflict during money talks here at Everyday Money.
To help you and your soon-to-be or newly acquired spouse communicate about money, and to help you structure conversations that may be difficult, we’re creating a new series: Newlywed Conversations.
An Introduction to the Newlywed Conversations Series
In this series, we’ll be giving you and your partner a handful of topics to chat about, including:
Talking about your wedding budget
Questions to ask before you say “I do!”
Deciding to combine finances
Each blog in this series will provide guidance on how to start these conversations and see them through. We know it’s not always easy to talk about money, but your life together is too important to neglect these conversations! Stay tuned for the first installation of this series: How to Talk About Your Wedding Budget.