When you decide to overhaul your money and start working towards financial confidence, sometimes you hit this big speed bump – the partner speed bump. It doesn’t matter how focused you are on hitting big financial goals and shooting for your dreams – if your partner isn’t having it, it’s hard to make progress.

Couples often struggle when one is a natural saver and one is a spender. The saver might be more risk-averse when it comes to investing or buying property, whereas the spender might be more able to flex their muscles for positive spending. The saver, on the other hand, might be a gun at controlling impulse purchase, while the spender struggles to back away.

Some would say, “I’ve been doing so well with my saving but it would be so much easier if my partner didn’t buy lunch out every day” or “I’m so excited about my money goals now, but how do I get my partner on board?”

Here are some tips on getting your partner on board with your money goals.

  1. GET CLEAR ON WHAT YOU BOTH WANT

Getting on top of your money is much easier when you’ve worked out what you’re actually doing it all for. A new savings plan sounds exciting at first, but unless you’ve connected it to something bigger, something worth making some sacrifices for, you might fall off the wagon. The same goes for getting your partner on board.

  1. HAVE REGULAR MONEY CHATS

It’s got to go beyond “hey, I made a budget”. Talk about money regularly, whether that’s over dinner in conversation, or sitting down and going through the tough stuff. Make it fun!

  1. OPEN UP

Be open and honest with each other and get your skeletons out of the closet and for all. Do you have debt? Do they have a bad spending habit? Have they been in trouble financially in the past? Are either of you triggered by certain things financially?

Opening up to each other can bring you closer and set you up for success as a team.

  1. MAKE A BUDGET THAT WORKS FOR BOTH OF YOU

In a relationship, partners have to be responsible for managing money—but the motivation for this responsibility needs to come from within. You and your partner should create and live on a budget that works for both of you.

  1. WORK TO EACH OTHER STRENGTHS

If you both have wildly different spending attitudes, it might take a little more work to get your partner on board with your financial goals. Identify each other’s strengths and weaknesses and work together to help balance each other.

You might be great at saving but a bit too risk-averse when it comes to investments. If they’re spenders, you can help them get their purchases in check, while they help you get more comfortable with spending money on investing in yourselves and your future.

Talk about your goals. Talk about spending. Talk about your wobbles when you nearly dropped $200 on a candle. Talk about what you’re good at, or not so good at. Being open will make it much more of a team effort, and move you closer to becoming a financial power couple.

TIP – Don’t be afraid to ask for help. You’re likely to have questions or hurdles along the way. We can talk about both your finances and let you know if you’re headed in the right direction. TALK TO US NOW!