One of the most difficult and embarrassing issues to talk about as a couple is finances and paying bills.
Most people feel uneasy about approaching a loved one and discussing monetary issues. There is nothing romantic about a money talk. Its practical side and the delicacy of the manner can in fact make you feel uneasy and distanced from the one you love.
Talking about handling finances is the only option if you want your relationship to evolve in a problem-free manner. Quarrels over financial issues very often feature as the reason for a separation. If you want to enjoy all the wonderful aspects of love, you need to take financial issues out of the equation.
TALK TO YOUR PARTNER ABOUT MONETARY ISSUES
Once the two of you start living together and you feel comfortable enough, approach the issue of handling finances.
Both of you should have a list of monthly income, savings and personal monthly expenditures.
Talk about your understanding of joint financial responsibility. Discuss what you are willing to accept as a financial responsibility and what will be seen as unacceptable. Many couples find their own unconventional ways to handle finances. It does not have to be a merged budget or a 50-50 split of expenditures.
If it satisfies both you and your partner, the decision is acceptable.
DRAFT AN EXPENDITURES HANDLING PLAN
Once you find out what your partner thinks about handling finances together, draft a chart that will help the two of you in implementing the new financial plan.
Decide each one’s responsibility in your shared financial plan. Split the expenditure on food, clothing, household items and bills. Try to take reasonable decisions based on your and your partner’s incomes.
Be open to suggestions and think about compromises. It might be difficult to get started and your plan will probably need readjustments. Try it for a month after which you will have factual evidence in support of some practices and experience with others that seem to fail.
Some mistakes should be avoided, if you want to make the plan work.
Before deciding on joining your budgets, find out if your partner is comfortable with that. It might be a better idea to keep your budgets separate in the beginning and to proportionally divide expenditures.
Never blame your partner for spending too much and for ruining your joint plans. Everyone has personal needs. You spend on personal items, as well. If these practices hurt your financial condition, find a way to get around them without starting an argument.
SEE HOW YOUR PLAN WORKS AND READJUST
Give your financial handling plan several months. This is the time the two of you will need to get used to the new strategy and to pinpoints its weaknesses.
Have monthly financial meetings. Sit down together and work over bills and other expenditures. See how you performed and if the plan favors either side.
Once you examine the efficiency of your plan, decide whether handling financial issues together is working and whether you will have to readjust the strategy. Naturally, your lack of experience in the beginning could lead to shortcomings. Once you get used to handle financial issues together with a partner, you will effortlessly spot glitches and will know how to fix them.