February brings visions of pink hearts, candies andcandle-lit dinners.
However, we think this Valentines Day you should add something new to your plans a money talk.
Common disagreements include whether or not to go out to eat or whether credit card debt is acceptable.
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In fact, 1 in 4 couples say discussions about money are one of the greatest challengesin their relationship.
This stress isnt just from not having enough money.
Its also disagreements over how to spend, save and plan for the money they have.
So whats the solution?
Enterfinancial intimacyand the money talk.
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Its not about auditing each othersbank account down to the penny.
Instead, its about building trust through honest disclosure of financial information and choices.
Financial intimacy allows you to connect and plan financially as a couple and hopefully limit financial disagreements.
But that task is often easier said than done.
Money is taboo in many cultures for a reason: Its a loaded subject.
Schedule It
Our first tip is pretty straightforward.
Get your money discussion on the calendar ahead of time.
Be sure to pick a time with few distractions and when you both have the bandwidth for discussion.
Creating this plan will also help you find any information that you better discuss ahead of time.
Did you know?
This might mean answering questions about terminology or withholding judgement on financial decisions.
This isnt the time to downplay your spending or hide your credit card bill.
Instead, focus on sharing a true reflection of your finances.
Focus on Listening, Not Judgement
This point goes hand and hand with being honest.
If we expect our partners to be honest, then we need to check our judgments at the door.
This meeting should be more about understanding your finances than an opportunity to criticize or hold your partner accountable.
What Should You Actually Talk About?
You wont have a successful money talk if you go into it with no idea what to talk about.
What is the Important Financial Information?
If not, its time to lay it all out.
This information should help you both feel in the know with your financial status no surprises.
How was Money Handled in Your Home Growing Up?
Many of us dont realize how much our feelings around money come from our past.
This background could result in some disagreements.
What are Your Feelings about Debt?
American households had an average of$105,056in debt in 2024.
How Do You Feel About Our Current Division of Finances?
Many committed couples choose to combine finances, but some choose to keep them separate and simply divide expenses.
You might also consider discussing how the money management labor is split between you.
You might find ways to lighten the load by using a budgeting app or hiring a financial planner.
What are Your Current Financial Goals?
Think about both short-term and long-term goals.
Goals can also change, so discussing them regularly can keep you connected as a committed couple.
You may even learn something new about your partner in the process.
If You had $1,000, What Would You Buy?
This question is here to remind you that a money talk can be fun.
If you dont know what youd do with that money,we have some ideas.
But in the interest of protecting your relationship, it makes it a pretty good day to start.
And what better way to celebrate your love this season than by protecting it from financial trouble.
Contributor Whitney Hansen covers banking, credit cards and investing for The Penny Hoarder.
She also writes on other personal finance topics.
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