If there’s one topic every couple fights about at one point or another, it’s money.
In fact, research from Relationships Australia found arguments about money are the biggest cause of breakups. Yep, money causes more relationship implosions than even infidelity.
But the dreaded “money conversation” – if done right – could actually be something that brings you and your partner closer and give you the best chance of making it for the long haul.
With that in mind, here are some of most common mistakes couples are making when approaching the topic of money, and how to avoid them.
Keeping expenses and spending habits under wraps
According to 2017 research by Finder, nearly a third of people in relationships spend money they don’t tell their other half about. Furthermore, a third of people will hide their purchases from their loved ones because they feel guilty about it.
Whether you think your spending habits will get you in trouble from your partner, or you simply don’t think it’s a big deal, not discussing your expenses, especially if you have a joint account, can cause turmoil in your relationship.
Mamamia staff share the silliest thing they had a fight over. Post continues.
It’s common for one person to take the lead in handling the household finances, but this doesn’t necessarily mean both parties agree on the way the money is spent.
Tip: A good idea is for couples to set aside a money date once a month. This will help you air out where you stand financially, as well as bring up any disagreements you may have with the way the household finances have been handled. Setting aside a specific time to be honest with each other will ease the tension and take the stress out of the discussion.
Not having a budget
Having a budget in place is one of the easiest ways to avoid money arguments. Not only does budgeting help you keep track of expenses and put some money away into your savings, but it also takes the stress out of deciding how to spend your personal finances.