Managing money as a couple can be tricky, but it is very important that you and your partner are on the same boat when it comes to finances.
1 + 1 can become >2 if you plan your finances wisely as a couple.
These are the top 6 tips to take note of to maximize your wealth together as a couple.
This article was written by a Financial Horse Contributor.
1. Be honest, be candid
The number one thing for healthy finances as a couple is open & honest communication.
You can’t build a future together, if you aren’t starting from a place of truth.
The more candid you are able to be with each other, about your current state of finances and where you want to be in the future, the better you can cultivate your action plan.
The more you talk to your partner about money, the more comfortable you are.
If you can share openly about your finances, this fills up your trust bank, and you can tackle problems together effectively.
You will also be able to set more realistic goals, as well as actionable steps to achieve them.
2. Joint goals, and set priorities
If you are keen to grow your finances as a couple, you would need to set goals and priorities.
If you are not on the same page with your priorities, you would eventually sabotage each other and create conflict.
Thus, it is imperative to discuss openly your goals and priorities.
Source: DBS 3. Check in with each other (and learn from each other)
It would be very difficult to set a goal, and hope it follows through without further communication.
Having a partner means you can rely on each other as accountability partners.
