Let the couple talk about money
How soon should the couple talk about money? We know that financial stress can have a negative impact on our relationships, while healthy conversations about money can strengthen the binding of a couple – and can even lead to better gay sex!
Find out how best to talk about couples’ money:
Talk to your partner about money
In this episode the Queer MoneIn the Y® podcast, we share the results of our survey in the Queer Money-Facebook group about when couples should talk about money in relationship. We give an insight into the question of why it is so important for couples who live together, so important to talk about finance, and what questions are in order they ask early in a new relationship. We lead you through our top 5 money tips for gay couples and explain why it is best to have the first conversation about money in public and how you can work together to improve your creditworthiness. Listen and learn what advantages it has to open a common account for common editions, to work together at your finances and to sit down together as a LGBTQ couple!
It is this time of the year in which many of us are in love with each other, but often money or financial stress can burden these feelings.Click to tweet
Topics covered about dealing with money in your relationship
How financial stress affects our relationships
- Reason No. 1, why couples argue, reason No. 3 for divorce
- Couples who talk about money have better sex
The results of the Facebook group survey
- 82% suggest talking about money before moving in
- Say 15 % before you update your Facebook status
We do not agree when the best time to talk about money
- John agrees with the majority of survey respondents
- David believes it’s too late to move in together
Our top five tips for gay couples to be financially successful
1. Take the conversation about money (ideally public)
Talking about money when you’ve never done it before can be risky because there are so many emotions involved. We recommend starting by talking about hopes and dreams and how you might get there financially. Start this conversation in public because it is less likely that the conversation will get out of control through emotions.
2. Review and clean up your credit report
In order to achieve larger money goals, a credit check is often required for loans, shared apartment rent and when buying a house together. Knowing where each of them is with their creditworthiness and the past is a good way to check each other financially. Get that for free Guide to improving or expanding your credit score So that you both go in the right direction if you need some help in this area.
3. Open a joint bank account for shared expenses
A common bank account that you can use for common expenses, even if it is just a food and entertainment, is a perfect step to talk about where and how you want to spend money. It can bring you to a regular budget meeting that leads to expenses and savings that correspond to your goals.
4. Connect your community account The Honeyfi app
The Honeyfi app was developed to help couples to pass on their personal financial information slowly and in a way that is neither intrusive nor scary.
5. Set one to three common money goals
As the saying says: “If we don’t plan, we plan to fail.” I am sure that as a couple you don’t want to be a financial failure, so? Setting some goals gives them something that they strive for and for which they can use and bring them closer together as a couple.