Another year has gone by and that most romantic of holidays is upon us again. I hope you’ve had a wonderful start to Valentine’s. While you might have plans this evening to head out for dinner and maybe enjoy a trip to the movies, here’s one thing you should definitely make time for as well: the money talk.
Okay, it’s not the most romantic way to spend Valentine’s Day, but when it comes to doing something good for your sweetie, yourself, and your relationship, it doesn’t get much more important than this. So go ahead, exchange cards, smell the roses, and then pull out your bills and a blank piece of paper...it’s time to make a budget.
Money is a numbers game. Making a budget, investing, signing for a loan - these are all financial considerations and they revolve around numbers. But there’s another part of money - the emotional factor. Money is one of the most emotionally charged parts of our lives. Some of us look at money as the end product of achieving our goals, but for many of us, it’s not a destination or a goal itself...it’s a tool to reach those dreams we have. A budget, after all, is just a way of prioritizing what we want to spend our time and money on in life, and that’s why it’s so important that you and the person you’ve chosen to live your life with are on the same page financially. You share a lot of the same priorities and goals, and that means you need to create a financial plan in sync with those priorities.
Here’s the problem...a lot of us get pretty sensitive about money. Whether we feel like we aren’t bringing enough cash flow to the relationship, or we feel like we’re the ones responsible for everything, it’s an emotional topic. It’s sometimes difficult to put those feelings and assumptions aside and actually have a meaningful and productive discussion about our finances as a couple or as a family. You might know everything about each other, right down to your favorite story as a child, but still not know each other’s spending habits, retirement plans, or bill paying habits.
So here’s my challenge this week: if you’re in a relationship, talk about money. If it’s an uncomfortable conversation, that probably means it’s an important one. Then make a financial goal together, whether it’s paying off a credit card, saving up for a weekend trip, or starting a college fund for the kids. If you’re lucky enough to have a partner to conquer financial goals with, you should start taking advantage of it. Happy Valentine’s Day. I’m Claire, the Afena blog mom. Thanks for reading