This a question to find the answer to sooner than later. If you’ve been together for a while now, it shouldn’t be too hard to know. However, even those who’ve been together for a while can have problems if they don’t acknowledge potential differences in money management.
The best way to find the answer to this question is by going through a financial course or counseling together. The worst way to find out is when something goes wrong with your finances due to overspending.
Money Management: It’s Ok for You and Your Partner to Be Different
More than likely, you and your partner will have at least a slightly different approach to money. This could lead to disagreements ranging from small to great.
Your many differences likely played a large role in what you found attractive about your partner (although similarities didn’t hurt either).
Differences in how you view finances often aren’t a bad thing. You both can learn something from each other through this process.
Your goal is to work together and decide how to make your differences work. Sometimes that means that one or both partners need to change something about themselves for the betterment of the relationship.
Other times, there needs to be a compromise. Perhaps one partner likes to keep track of every penny but needs to lighten up a bit about spending for the sake of the partner who isn’t so detail-oriented.
The “tightwad” can learn from the free spender how to give to those in need or how to lighten up and have fun every once in a while. The free spender can learn that finances can quickly become a nightmare if there isn’t some discipline in place.
Talk About Your Differences Before Problems Arise
The most common time to talk about differences in how you spend is during “pressure points.” These are the moments after something’s gone wrong. You and your partner are tense and there could be an argument if caution isn’t taken.
Troubleshoot potential problems during non-threatening encounters such as dates or at a meal. Talk about your varied opinions and some ground rules to implement.
Doing so will give you fewer financial fights and improve your communication. And that’s what you ultimately want.
Although you and your partner need money to survive, you both are way more valuable than money. Preparing ahead of time for potential differences in opinion will prove that you value your spouse as the priceless gift that he or she is.