Nothing says “I love you” like a conversation about finances.
Money is one of the leading causes of divorce, but fortunately, one Valley financial adviser has revealed five secrets to a happy money relationship.
First, find compromise.
“[If] you have someone that’s more of a saver, where the other spouse is more of a spender, work out ways to kind of keep both sides happy,” said Joe Gleason with Gleason Financial Group.
Second, pool your money.
“There’s research that shows the more you pool your money, the happier couples are in relationships,” he said.
The third area is honesty.
“If there’s miscommunication or even lying about money within the relationship, it almost comes off as like financial infidelity,” he said. “It can really lead to problems and, in some cases, unfortunately, divorce.”
Eliminating debt and creating an emergency fund is fourth, while the final step is to create rituals.
“We recommend that folks sit down and talk about their finances and talk about budgeting at least a couple times a year,” Gleason said. “Kind of treat it like an important work-related appointment…because that communication is very important.”
He does suggest making it fun, however, like a date night. If you don’t know where to start, Gleason said there is a Couples Compatibility Quiz on their website.