Talking about money with your partner can be tricky. It can be a notoriously ~iffy~ subject to bring up if it’s not something you’re not naturally open about. But, much like eating your greens and getting 8-hours sleep, it’s one of those tough-yet-essential habits you’ve got to get into.
Having an understanding of your own finances as well as your partner’s will help you set goals for the future and keep yourself safe and secure in instances of uncertainty. It sounds extreme but avoiding having that convo about your UberEats habits getting out of hand could slowly sow the seeds of distrust that could eventually lead to money disasters.
I think we can all agree that if there’s someone who probably knows a thing or two about navigating relationship dynamics and having money talks, it’s Laura Byrne. Luckily for us, on the most recent instalment of CUA’s ‘The Finance Glow-Up’ webinar, our hostess-with-the-mostess Laura got deep with CUA’s money expert, Emmanuel Davatzis chatting about how couples can best manage money together.
The overall sentiment was that there are no hard and fast rules when it comes to discussing and managing finances in a relationship – after all, every couple operates so differently. However, you must find your own special way to deal with it all that works best for you. Got it? Good.
Laura kicked off the convo, talking about how she and her fiancé Matty J handle their money, noting that they’ve always been really open about it all.
“When you’re thinking about having kids, getting married or buying a house, talking about money becomes something you do quite a bit,” she said.
“It makes for a happier and healthier relationship down the track.”
She also explained how she and Matty split paying bills, using a “percentage” of their salary monthly, rather than matching each other dollar for dollar. She also noted that “money talks” in a relationship aren’t something that should just happen once – getting into to habit to check in fortnightly or monthly is a more effective option.
To make it simple for all of us to get into the groove of having these talks, CUA has put together a nifty little deck of cards featuring different financial conversation starters to get you and your partner talking money.
Some of the questions included in the game are:
- Are you a spender or a saver?
- Are you interested in a joint account for bills and savings?
- What does financial stability mean to you?
Throughout the seminar, they also discuss topics like managing your cash flow, how to consolidate your debt and personal loans and paying bills. If you missed out on the webinar in all it’s live-glory, you can get up to speed on all the wisdom shared by downloading their financial toolkit too which also features their very own money-savvy card game.
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