Love & Money: Removing Financial Stress from Relationships

Did you know that money-related stress can be a big reason why employees seek couples counseling? It is not too surprising when you consider that most people who speak with a Money Coach say that they were never encouraged to talk about money while growing up. If someone is not comfortable talking about money before they become an adult, the odds go down that money will become a comfortable topic in future relationships.

The good news is that money confidence can be learned, and when couples decide to learn together, it can become one of the strongest bonds in their relationship.

Imagine What a Money Partnership Might Look Like

When you do not talk about money with your partner, you are missing out on daydreaming and planning your future together – traveling, the perfect home, where and when you will retire. And when it comes to problem-solving, remember the adage, “Two heads are better than one.”

Sounds good, but… a big reason you may avoid money conversations is that you find your partner to be your opposite in many ways, such as having completely different spending and savings habits. You may agree on politics, religion, and other important beliefs, but you might not be wired the same way when it comes to money.

This is where an MSA Money Coach might help. A Money Coach can be an objective third party that provides education and tools – like some best practices for writing goals, creating a budget to fund those goals, and discussing options to fund your goals. They can also help you recognize how each partner brings strengths to the relationship and can offer strategies to recognize the value of different perspectives.

Making Money a Comfortable Conversation Topic

There are many types of money conversations, and it can be easy for these to quickly escalate into arguments. Money fights may last longer and be more intense than other types of conflict. Just the conversation around whether to combine checking accounts or discussing how much money each person gets to spend on their own priorities can escalate fast.

Our suggestion is not to save your financial conversations for when you must deal with a problem. Instead, schedule a money “date” to talk about your financial goals as a couple. A good start is to make this monthly and start developing a routine around talking about money. Remember, you are working together, not against each other, so avoid placing blame or making judgmental statements.  You are planning for the future by taking steps today, together.

Tap Into Available Resources

At MSA you have plenty of resources available, including the chance to work one-on-one (or two-on-one!) with an unbiased and objective Money Coach. Reaching out to a Money Coach is not a sign of weakness – it is a strength. It takes courage to admit you want to do something better. Plus, talking with a coach is confidential and nonjudgmental.

You may have help available through an employee benefit.

Most of the people who use MSA services do so through an employee benefit paid for by their employer.

You may also find it helpful to note that an employee benefits package often includes free consultations with counselors on relational issues or mental health challenges, as well.

Check with your company’s employee benefits team to see which resources are available to you.

Congratulate Yourself & Keep Going

Reading this article means you are already making an effort to improve your financial well-being and lower financial stress. That’s worth celebrating! Keep up the momentum by calling us to schedule a money coaching session. You and your spouse/partner can join in on the session together, even if you happen to be in different locations. Call 888-724-2326 today.

Information provided in this article is for informational purposes only and is not intended to offer specific personalized investment, financial planning, tax, legal, or accounting advice.  We recommend that you consult an attorney, tax advisor, or accountant regarding your unique circumstances.

This content is for informational purposes only and does not guarantee eligibility for the program or its services.