So many couples, once they decide to move in together or get married, dive headfirst into combining finances with their partner.
While it’s great to be excited about the future the two of you are building together…
It takes more than excitement and blind faith to create a solid financial foundation…
So if you’re thinking about taking the next step and putting your finances together as a couple…
Here’s my number one tip for making it happen and coming out stronger at the end of it.
Do THIS Before Combining Finances In Your Relationship
When you’re deciding whether combining finances within your relationship is the right move…
You and your partner need to sit down and have a long conversation about your expectations in this new phase of your relationship.
Of course, communication is absolutely essential in every part of your relationship
But it’s especially important when talking about money.
AND IT DOESN’T HELP THAT TALKING ABOUT MONEY WITH YOUR PARTNER IS STILL CONSIDERED A HUGE TABOO.
Combining finances is a big step in a new direction for any relationship but not many people know that it can be a great move for their future. After all, a recent study found that couples who combined finances were much happier than their counterparts.
But if it’s a big change you’re both planning for a money talk is definitely in order.
I don’t mean just sit down and chat… You need to be clear with each other about your past, present, and future for this money talk to really work its magic.
Your Past
Here, you want to talk to your partner about what money mindset you grew up with and how that might influence you today.
Before combining finances, you want to be clear with your partner about what you grew up believing about money. What money attitudes were you raised with?
WHAT ARE YOUR SELF-LIMITING BELIEFS?
For me, it was believed that every woman needed to be ultra-independent and never rely on anyone for anything, much less rely on a man.
This belief put me in a position where I was financially supporting men who were taking advantage of me. Yikes.
Thankfully, when Grant and I got together and started planning our future…
Talking to him about my experiences helped us guide our relationship and our finances.
It’s important to talk about your past with money before combining finances…
Because it helps your partner understand exactly where you’re coming from…
And how it helps you guide where you want to go.
Your Present
Once you’ve opened up about your money beliefs and behaviors growing up…
Now’s the time to talk about how you and your partner are dealing with money NOW.
This is when you want to talk to each other about your current money goals and why you’re interested in combining your finances in the first place.
Don’t be afraid to ask the hard questions here…
For this to work, both parties need to be FULLY transparent about their individual wants and financial situations. If you aren’t clear and honest about your finances now…
HOW DO YOU EXPECT TO BE HONEST ABOUT IT DOWN THE LINE?
Be as honest as you can be! After all, some discomfort now is worth the foundation you’re building with your partner for your future…
And speaking of…
Your Future
This is the fun part…
Here you and your partner get to daydream, and more importantly, plan what you want to do once you finish combining your finances.
Think about everything you as a couple want to do together.
Maybe you’re saving up to buy a house…
Have a nice honeymoon once you get hitched…
Or you’re getting ready to have kids…
WHATEVER IT MIGHT BE, PLAN FOR IT NOW SO YOU’RE ON THE SAME PAGE WHEN COMBINING FINANCES.
Grant and I used to do our own version of this called the lottery game, where we would dream about what we wanted to do if we had won the lottery…
Now those dreams have become a reality for us…
And they can come true for you too.
Talk About Combining Finances NOW And Save Yourself The Trouble.
Ultimately, when you talk about combining finances with your partner…
It helps the two of you get more aligned with what you want from each other and what you each want out of life.
Remember, this conversation is meant to get you as a couple on the same page about your future together…
SO HAVE AN OPEN MIND AND BE WILLING TO SEE THINGS FROM YOUR PARTNER’S EYES.
You two might disagree on certain topics…
But if you’re both committed to building an empire and supporting each other without letting little disagreements get in the way…
Nothing can stop you from achieving your goals together.
When you’re both aligned and in agreement, there’s no reason to wait…
Create your future with the one you choose.
And remember…
Build an Empire,
Elena Cardone
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