Financial entanglements can destroy your relationship if you’re not careful. You’ve probably heard that money problems are one of the most significant factors that can lead to divorce. In fact, you don’t even need to be married to fall victim to the powerful influence that money problems can have on a relationship. If this sounds familiar, beware! Many studies have proven that this could lead to divorce. This is so because about 41% of marriages ended due to disagreements about money. Therefore, it is important to introduce financial dates in your relationship, so that money talks do not need to be a taboo.
What is Financial Date?
The financial date is when couples set aside time to go through and talk about their finances. This entails setting your financial goals together, doing the budget, and discussing ways of cutting down on expenses and maximizing on other streams of income. I recommend to start with the financial dates even on the courtship phase so that you can understand your money personalities and see if you are financially compatible. The major reason which leads to divorce as a result of money issues is the failure to address them during the courting phase. When you then start living together, you will clash on your money personalities which will create a lot of tension. I have three benefits of financial dates and why it is important to start exercising them that am going to share;
- Financial Goal Congruence in Your Relationship – having financial dates will ensure that you are working on the same goal and vision. It is also easier to combine your finances if you are on the same page. If you don’t discuss your finances, chances are high that you will be moving in opposite directions. You won’t know and understand what you don’t talk about and agree on.
- Wealth Creation – It’s easy to build wealth if you are working on the same goal and ensuring that you are putting more money for your savings and investing. If you don’t have financial dates, it is easier to have different financial goals and this never yields any fruit.
- You said I Do – Just because you said I DO; it has to affect every aspect of your marriage including your finances too. If you understand that the money is Ours and not his or hers, that is the first step to financial success in relationships and marriages. Understanding that saving together will yield more than doing it, separately will help in decreasing the divorce rates caused by money issues.
With true commitment and time spent making some changes, you can absolutely improve your financial management skills and protect the longevity of your relationships all at once. Start on those financial dates and make a change for your future.
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