When it comes to money, even the happiest couples can run into difficulties. Most of the time financial problems can put a lot of pressure on any relationship, but experts also offer some ways we can try to make it easier to overcome money-related problems we encounter in our relationship.

Couples should talk openly about their finances, both the good and the not-so-good parts of their finances that they think could be improved. It is very important for both partners to be aware of each other’s needs and desires, but also of their own perspectives to identify when it comes to money, savings, financial plans and future projects.

Just as everyone is different and unique, well this difference can sometimes be more stark between partners if we look at a particular area of life and relationship.

In terms of the financial plan, one partner may be in debt and the other has to decide whether they can and whether they want to help or take on the whole burden.

Another example could refer to the character of each partner, so one may tend to save and refrain from some expenses, while the other may consider it very important to live life, the moment, so may be more spendthrift and more oriented towards satisfying the pleasures of the moment. Both partners are right and both have the right to live their lives according to their own values, but when financial problems deepen, imbalances in the couple can lead to arguments and stress.

There are also situations where only one partner remains with a job or is the main source of finances in the couple, shifting most of the financial responsibilities onto their shoulders. Under greater stress, conflicts will soon arise. Involvement and support from both partners is needed to overcome such a situation.

Because life is full of experiences and the unexpected, financial problems can be diverse and can arise at any time, even when we are least prepared to deal with them. This is why it is recommended that partners openly discuss their projections for their budget and future earnings, how they currently spend their money in their daily lives, and how they think they could improve financial management in their relationship.

So whatever the cause of financial conflicts, it’s important to keep in mind that we can find solutions to work through them together. By communicating openly and working together, partners can work out the steps to get out of a financially stressful situation or agree on a decision that requires a large amount of money.

Here are some tips that can help you solve financial problems in your relationship:
Try to share responsibility for joint financial matters
For example, if the two partners live together, household expenses and those involving day-to-day needs can be shared in a way that is fair to both participants. This sharing does not necessarily have to be done equally when it comes to money, but it can be done on a percentage basis, for example of the salary each has. It is unlikely that both earn the same amount of money, so the lower earner will find it harder to support higher expenses. Regardless of how the couple choose to share their money, it is very important that both partners are honest when expressing their opinions and are satisfied, feel entitled and have a sense of fairness when decisions have been agreed.

Set budgets for the various financial plans you have
Setting a budget is important for trying not to go over certain amounts when it comes to spending, but it is even more important for being aware of and identifying the details that both partners need to go through to set that budget. Through such a practice they become more aware of the financial reality in their lives, learn to identify the power of risk and contingency when it comes to money, can see where improvements can be made to their financial plans and can estimate over time the achievement of goals. In this way they both stay on a common path, without getting all sorts of possibly wrong impressions about each other.

Moreover, this practice helps the couple prioritise their spending and future financial projects, thus creating a more efficient money flow for the couple.

Communicate openly when you have certain wishes or grievances
Amidst all the financial responsibilities, it’s natural to have little desires that bring us joy in life. Maybe we occasionally want to go out to a restaurant, maybe buy a dress or a video game. Regardless of their nature, these little wishes make our lives better and can give us a sense of fulfilment. That’s why, even if these small wishes are not part of a couple’s larger financial plans, they should still be communicated and as far as possible respected.

Think about investments
It is said that a penny saved and a penny spent makes two pennies, but a penny invested can make a lot more money. In other words, our ability to save remains limited when we have fixed income, such as wages. This is why, if at least one of the couple has entrepreneurial skills, they could be encouraged to develop businesses or create investments that will bring in more money in the long run.

It is recommended that both partners have control over the money in the relationship.
This becomes particularly acute if one partner remains active in the workplace, keeping their job, while the other remains, for example, mainly responsible for household responsibilities. At first glance, it might seem that we are talking about the classic family, but there can be quite a few reasons for this. It is very important that the partner who has run out of income also has the freedom to decide on the couple’s finances, as there is a tendency for the earner to make the rules, and this could be very toxic for the relationship.