How to keep your relationship ‘in the black’

Money

Whatever your financial situation, it is never long before the subject of money comes up in a relationship and sadly, according to a new survey, it’s the biggest cause of rows and break-ups. The study also showed that a third of couples living together do not have a joint bank account with half of men and women oblivious to their partner’s money habits and one in thirty admitting their partner knows nothing about their financial situation.

It seems many of us feel slightly awkward talking about money but this is the very root of the problem. Here’s how to get off on the right financial footing from the very start and keep that relationship well in the black!

Salary differences:

Maybe you’re on £25,000 and they’re on £95,000. This could be an issue on date one! Suppose they pick a venue that’s way beyond your budget and you then feel miffed they asked you to go halves?  When dating, we’re out to impress and this can sometimes mean we get carried away, often by appearing to have more money than we actually have. But if you can’t afford it, there is no point in draining your finances for the sake of a date and equally, if you can afford it, it’s worth remembering everybody’s outgoings and financial commitments differ – er, especially when dating just before pay-day.

Money’s too tight to mention:

Most people, especially living in London (!) carry some sort of debt be it store cards, credit cards or loans. We’re not suggesting you reveal you’ve got sixty thousand spread across five credit cards on a first or second date, but if the relationship is starting to move in the right direction, ie: you’re talking about moving in together, you need to get honest. If you think your debts are high enough to make meeting joint commitments tricky, fess up. Remember, debts have a nasty habit of sticking around for longer than you anticipate and will weigh heavy on your mind when your partner suggests a nice holiday or renting a nicer apartment. Don’t ever feel you need to suffer alone. A problem shared is a problem well on it’s way to being solved (especially if you’re dating an accountant…) and it proves your are both serious and committed to the relationship.

Old habits die hard

When you move in together, you have to accept the fact your spending habits may have to change. This might mean your favourite clothes shop will keep a few more clothes on their rails than normal, your favourite restaurant will see you less frequently or your current smartphone will have to stay smart for a little longer (which it will). Try not to feel too resentful, you’re part of a couple now and you’re building a life together, sensibly!

Money talks

At some point in our lives, we’ve all felt nervous when we’ve checked our bank balance or maybe ‘insufficient funds’ have even left red-faced at the cash point. Sometimes we need these reality checks and when you’re in a relationship, it really is time to get a little more money savvy. The key to a harmonious financial relationship is to come clean and get used to talking about money from the very start. If you’re going off track, tell your partner.  Put your money on the table, pull together, you are a team now and that means you help each other out!

Keep talking folks. Good luck!

Do you have any other good money advice for couples? Tell us @Lovestruck

Enjoy this blog?  You may also like:  What Your Date Wish You Knew About Them

 

 

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