[2:40] Why you can’t strong arm your partner
- You can’t adopt the “my way or the highway” approach.
- Committed relationships require compromise
- Money is a team sport
- You can keep your money separate and if it works for you then that’s great but you need to find something that works for you both.
- It’s a difficult thing to talk about but its’s important to get on the same page.
- Don’t get emotions involved
[4:50] How to handle the spender and saver relationship
- Denis is the spender and Katie is the saver despite her student loans and debt.
- Finding the balance is tricky- you need to be open to hearing other people’s ideas
- You need to find balance in your relationship or your middle ground.
[7:4] Things to mention before getting serious with money
- Tell the other person your “deal breakers” and anything that if the role was reversed you think the other person should know
- Try to get on the same page as early on as possible
- Some things can be red flags for you- find out early!
[9:19] How to agree on money goals
- Something you should do as a couple – you need to find out what works for you Long term-
- what are your goals and how are you going to get there
- Setting goals is super important- 800% more likely to achieve a goal if you write it down
- Review your goals after a period of time
- Setting new goals and crossing things off is super powerful
[11:49] Combining incomes as a couple
- This is a tricky aspect to approach
- There are pros and cons to whatever approach you take
- You need to find what makes you and your partner comfortable
- There’s nothing wrong with having a separate bank account
- Maybe wait until you’re married to have a joint bank account
