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Budgeting for Couples

Deep-seated disagreements between couples about finances can be stressful, but they can be resolved. If you and your partner don’t always see eye to eye when it comes to budgeting, the following tips may help.

Talk to each other

Opening the lines of communication early in your relationship can prevent stress and friction later on. If your relationship is not in its early stages, you need to start talking to each other. Plan time to sit down with your partner and discuss your feelings about money. Your attitudes toward spending and saving probably have their roots in the ways your families thought about and handled their finances. Discussing your family’s relationship with money can shed light on your emotions and help you understand your partner’s position.

A couple looking at a tablet in their home.

Identify different saving priorities

You will have to find common ground if one of you wants to save or invest every extra dollar when the other wants to spend it. While financial security is important, it shouldn’t be at the expense of an enjoyable, interesting life. Coming to an agreement that considers one person’s desire for financial security without leaving the other partner feeling deprived can satisfy the saver and the spender.

Consider risk

You and your partner might have very different feelings about how much risk you are willing to take in pursuit of gains. One of you might be an aggressive investor that seeks assets with the potential for earning higher returns over the long term, such as stocks. The other could be a conservative investor whose focus is on preserving principal and would prefer fixed-income and cash investments, even if the earning returns don’t keep pace with inflation. Meet your financial professional and ask for help in working out an investment strategy that allows for growth while addressing volatility.

Notices & Disclosures

Article is adapted from content provided by DTS.

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