Spousal Unity with Money

Spousal Unity with Money: Are you afraid to talk about money with your spouse?

Spousal unity surrounding the topic of money is one of the most fundamental building blocks to a healthy marriage. After years of meeting with people discussing their finances we have found spouses often have differing perspectives.

Here are some basics steps to accomplish spousal unity with money:

Open communication

The first step is simply starting the conversation. One spouse may have little idea where they stand financially and what their future looks like. In our experience, lack of open communication will culminate into a bigger problem in the future.

Complete honesty

Broken trust is one of the top reasons for an unhealthy marriage. While communication is important, communication without complete honesty is dangerous as it can lead to further misunderstanding. Be willing to be completely honest!

Listen

Spouses need to listen to one another about their desires and needs. Make sure each spouse listens without responding. Even if an agreement can’t be made immediately, that’s okay! Ensure everyone’s voice is heard, then an informed decision can be made.

Seek counsel

One of the easiest ways to break the ice and begin the conversation is by meeting with a third party. This third party could be a trusted friend or family member (just make sure each spouse feels confident they will be impartial) or a trusted advisor. This third party can provide insight into the situation that both spouses were blind to and can remove bias from the situation.

The results

Spouses with financial unity have a healthier, more productive marriage. When the two can agree upon their common goals for the future they are more easily accomplished to make life better!

Talk with us about your portfolio or financial plan here: Talk with an advisor

More Reading: An Inheritance that Unites Rather than Divides