"I find that it helps to break down the big picture into smaller achievable tasks and to recognise and celebrate these achievements along the way."
4 Ways to prevent fights about money with your partner
My Mum used to say to me while I was growing up that couples only ever fought about two things: sex and money. Here are some tips about the money side of things I have learnt through being a financial adviser and through life experience:
1) Be honest
Let your partner know about your income, expenses, assets (those things you own) and your debt and ask the same of them.
2) Be Open
In many relationships, one partner can earn more money than the other and therefore cover more of the expenses. It might be that one of you is staying
home to look after children. Check with each other regularly that you are both still happy with how this is working.
3) Have â€˜Funâ€™ money
As youâ€™re setting your budgets and planning a financial future together, be sure to set a little aside for yourself each pay. This could be to go out with
friends or treat yourself to something that makes you happy. This ensures that both partners feel that theyâ€™ve maintained some independence when it
comes to their own financial situation.
4) Create a shared financial vision and plan
Not enough people have any sort of plan in place when it comes to their own finances. You have committed to a relationship, and money becomes a significant
part of that. Sit down with a financial adviser and start mapping out your financial plan.
Contact Katherine Hann on (08) 8299 9927 for a no obligation first appointment.