# How to Have a Healthy Talk About Finances with Your Spouse



## Administrator (May 8, 2013)

One of the most important aspects of a healthy marriage is honest and open communication. When a relationship starts to fail, it is often because one or both partners have stopped communicating in an effective way. Money is also a major problem for many couples, so you can imagine how volatile communications about money can be. If you want your marriage to be healthy, however, you and your spouse will need to learn how to talk about money.

*Why is it Important to Talk About Money?*

Not every couple goes the traditional route of shared bank accounts when they get married. But even if you and your spouse maintain some form of financial independence, you still need to be on the same page when it comes to saving and spending. If you and your spouse don’t communicate about money, it will be difficult for you to establish and work toward financial goals such as saving for a house or preparing for retirement. If one of you is focused on saving and the other on spending, you aren’t going to get anywhere. Each person understands and handles their finances differently, so it is just another thing you need to learn about your partner so that the two of you are on the same page. It may be more challenging than talking about your eating habits or where you want to live, but it is just as important.

*Tips for Talking About Money with Your Spouse*

Depending on your financial situation, you and your spouse may have different needs or goals when it comes to money. However, if you want to be on the same page financially, there are a few things you absolutely must talk about. Here are some financial topics to cover with your spouse:


1.	The amount of debt you each have separately, and jointly, and how you plan to pay it off. Ideally, you should know how much debt your partner has before you get married so that you don’t walk into a financial disaster unaware. You will also need to decide whether your individual debts will remain individual or if you will pay them jointly.

2.	The amount of savings and other financial assets you have. Again, before you marry someone you should have some idea what kind of financial relationship the two of you are going to have – will you share your money or will you each have your own finances?

3.	Your spending habits. Some people stick to a detailed budget when it comes to spending while others have a looser grip on their paychecks. You and your partner don’t necessarily need to have the same spending habits, but you should at least know what each other’s habits are to see if your lifestyles are a good match for each other.

4.	Your financial plan for the future. Some people have a detailed plan for how much they put into savings and how much they put toward retirement with a specific goal in mind. Other people tend to put money into savings only when they have a little extra. If you and your partner plan to have a future together, you should be on the same page with your financial plans for the future as well.​
Talking about money is never easy, but if you want your relationship with your spouse to be as healthy as possible for the both of you, it is something you must do. You don’t necessarily have to lay it all out on the table at once, but be sure to address the points made above at some point, ideally sooner rather than later. 

~ Glen Community Support


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