Working as a Team – Relationships and your Finances

Welcome to Finance and Fury

Today we are going to talk about relationships and money, and some strategies to start working as a financial powerhouse couple

We all spend money and we all have relationships

• Doesn't mean romantic relationships
• How has your relationship with money been developed?
• Did your parents talk about money around you?
• A lot of your foundations are through things you picked up as a kid
• Did you notice your parents ever fight about money?
• Based on what you observed you might try and avoid conflict about money
• What I was exposed to made a huge difference in my development
• It initially was uncomfortable talking to others about money, but with time you get used to it

Relationships & Money 101

• Compatibility helps a lot. Some similar goals and visions.
• As a couple, you are meant to be greater than the sum of its parts
• That means something bigger/better than you would expect from the individual parts
• Think about a relationship in terms of an equation 1 + 1 = 3
• If you have 2 people leading towards the same goals, you get a much better return.
• Your finances allow you to live a certain lifestyle
• What happens if you have differing values?

First step:

• Work out your own personal inventory and your values
• Get to know yourself a little better and use one of our workbooks
• Look at your financial habits and how they are impacted in a relationship
• Is there anything influencing your behaviour?
• What is my personal experience?

Getting on the same page – What you can do?

• Have you had a meaningful chat with your partner about money?
• Talked about spending habits, savings habits and shared goals?
• It needs to be a pretty focused chat around your goals
• What gets in the way?
• If uncomfortable, you might find it's not as bad as you thought
• Important to get all the baggage out of the way at the start
• Create a list of shared financial goals
• Accountability buddy - Helping each other keep on track of these goals

The most important part:

• Talking about money with your partner
• Delaying this will do you no favours
• Relationships alone are a significant investment
• The more you invest, the better the relationship gets
• Are you both working towards your end financial goals?

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