by Janine Taylor
Financial stress is the number one stressor in relationships today (Slatkin, 2018). Spending money is a part of everyday life. It’s important as a couple to be on the same page in terms of spending habits. Being ‘in sync’ depends on collaboration, discussion and mutual permission. The ability to spend with freedom and know your partner trusts your choices is liberating. Choose to have financial discussions that highlight spending priorities: what is considered valuable versus invaluable will help each other to identify limits.
A survey conducted on Australian relationships in 2018 (Woolcott) indicated that more than 50% of respondents acknowledged that they did not discuss their own or their partners’ financial situation or history before entering into a relationship. This highlights that essential conversations that should be taking place before couples start relationships are not happening.
Here are 5 tips to assist couples build financial boundaries with each other: