I believe that it is a rare case if a couple has never argued about money. Money conflicts are very common between couples. The arguments may be related to a lot of issues regarding money such as:
• Who is earning more money
• Who is contributing more towards the family’s support
• Who is in-charge of the money matters, like settling the monthly bills
• Why one partner gets to spend more money on personal treats
• Why there is no money left at the end of each month
• Why there is so much debt
• Why one partner is over-spending every month
• Why the savings account is under one name only
• Why one partner has a retirement fund and the other does not
The list can go on and on. My partner and I also have our share of money disagreements. Although we rarely have strong earth-shaking arguments about money, we often have minor disagreements in our views about money issues. One of the obvious thing I notice is that we both have different opinions and attitudes about money in some areas. I called it our differences in ‘Money Personality’.
My money personality is as follows:
• I am frugal.
• My goal is to reach financial freedom as soon as possible.
• I prefer to earn passive income but currently I have to go out to work and earn an active income.
• I want to accumulate money fast rather than gradually.
• I tend to worry a lot about money. For example, on whether my retirement fund will be sufficient or not, whether my insurance will be enough to cover my medical expenses at old age or whether the children’s education fund is adequate to cover all the necessary costs.
My partner’s money personality is as below:
• He is also frugal (we agree on this part).
• He does not mind to work until retirement. Hence, building or establishing a passive income stream is not important.
• As long as he is working every month earning a salary, he does not see the big deal about accumulating money fast for early retirement.
• He likes the idea of working for someone else rather than working for himself.
• He is confident that the amount of money taken monthly from his salary for his retirement fund will be sufficient to meet his needs.
• He is comfortable with his current way of life and is not interested to learn new ideas, skills or trade.
Knowing your partner’s view on money matters helps to prevent big arguments on the related issues. Both of you would know where you each stand and both have a right to his or her own views. Hence, compromising is a good way to settle a dispute and reach a mutual decision.
What money arguments do you have with your partner? What do you disagree about the most?
Related posts:
{ 3 comments… read them below or add one }
On my case it is vice versa from your case..
anyway, money could be a taboo subject with our partner. Its not easy to reach agreement indeed. The best way is to have a common goal align first, then money talk between 2 will be much much easier..
Well Fauzi, sometimes for my case, talk is easy but reaching the goal seems very difficult indeed.
Money is a very sensitive issue especially with our devoted half. Both must give and take. Both must be matured and had ’some financial agreement’ made earlier in the relationship. If you haven’t have one, it’s never too late to introduce one to your relationship. Both must learn to compromise. At some point, try to see things from his/her point of view. Make it a priority not to let money matter increase the gap between you and your devoted half. If everything else failed, perhaps it’s time for us to ‘temporarily give in’ to our devoted half. See how far things goes…