Secrets of Financially Healthy Couples
I’ve seen first-hand as a financial therapist the types of things financially healthy couples do, over and over again, to strengthen their relationship by including money in it. In this video, I’m spilling the tea on how to take YOUR relationship and become financially healthy and wealthy.
They prioritize money as a part of their relationship. Healthy couples include money in their relationship and regularly talk about their goals, what they owe, what they earn, and what they own.
They agree on how to handle financial setbacks. Hiccups or roadblock are a normal part of achieving any goal, and the way couples decide to handle setbacks helps to set them up for success. Rather than throwing their hands up and screaming “we’ve failed!” healthy couples create a plan for how they’ll stay the course—or get flexible—when striving toward their financial goals.
They share a joint bank account. Yes, you can be a feminist and share a bank account with their partner. In my work as a financial therapist, I see so many couples who are writing each other checks, Venmo-ing each other, or (gasp!) asking their partner for grocery money. Whether you fully combine account, I see financially healthy couples have at least a shared expenses account. From that account, things like recurring bills, mortgage/rent, are paid, and shared goals (see secrets one and two!) are saved for.
They talk about how much risk they are willing to take on and define what risk means to them. The risk for one person might mean buying real estate, while for another, investing in anything aside from an index fund sounds terrifying. Healthy couples sit down together and make joint decisions about what risk looks like, and how much financial risk they are willing to tolerate. Like anything, this conversation is evolving. What may have felt risky early in the relationship may change as time goes on.
Want even more goodness? If you are ready to dive into the world of conversing with your honey about money, be sure to grab my FREE downloadable “5 Ways to Start the $ Talk with Your Partner,” for conversation starters that will be sure to kick off your journey to becoming financially healthy.