Anyone who has ever had to navigate their way through a difficult financial conversation with their partner knows that differing opinions can be very challenging. In fact, according to the results of a new survey, money is one of the top reasons for stress in a relationship.
The survey, conducted by LearnVest and TD Ameritrade, also found that although financial issues can be a huge cause of stress, at least 60 percent of married people trust their partners to manage their finances. This number rises even higher to 70 percent among couples who are 60-years and older.
It also seems that awareness of your partner’s finances comes along with trust. Less than a quarter of couples aged between 18 and 35 had a good understanding of their partner’s income and debt. But later in life, as much as 60 percent of individuals are fully aware of their financial situation.
So how is it possible to build trust around financial issues without causing yourself additional stress? Well, probably the first and most important thing to emphasise is communication. Regular discussions about your finances build trust within the relationship and help your understand each other more clearly.
Be as open and honest as possible. Not only will it help you overcome any disputes about the best way to handle your finances, it will also help you with the future of your relationship.