EP232: How to Communicate with Your Partner About Money
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Money can be a touchy subject, but it’s important that couples are able to have constructive conversations about financial goals. We hear from investors all the time who struggle to get on the same page as their spouse. In fact, this is an issue we encountered early on in our marriage.
On this episode of Investing in Real Estate, Natali and I are sharing four tips for effective communication about money. We’ll discuss why money is such a pain point for so many people, and how we’ve been conditioned to think about wealth building.
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Someone we’re close with recently described an argument they had with their spouse about money. This made us recollect early in our marriage when we would disagree about finances and have unproductive conversations. It’s very common for what should be a reasonable discussion to explode into a fight. We’ve put together four tips you can use to avoid fighting with your partner about money.
First, it’s important to recognize your own fears and limiting beliefs about money. Most of us have these, but overcoming them requires introspection. Consider your fears, and where they stem from. Realize that most of our fears never become a reality.
Secondly, consider your partner’s fears. Once you understand their background, and the things that trigger their fears, you can start being more careful. If you know your spouse is fearful of lack, you can do your best to not feed those fears.
Also, know your numbers. Think about your Freedom Number, and calculate your net worth. If you understand your goals and where you’re headed, you’ll be more centered in reality.
Our last tip is to make and trust your plan. You both need to be the same page, but if your plan is based on shared values, you can move in the right direction intentionally.
On this episode, we’ll discuss recognizing and understanding fears about money, and how to be realistic about numbers. We’ll discuss why calculating your Freedom Number is so powerful, and the importance of having shared values. Please join us on this episode of Investing in Real Estate to learn more about effective communication for couples!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- Why don’t you see commercials for real estate investing?
- How have we been conditioned to think about wealth building in the United States?
- Why is it natural to fight about money?
- And much more!
Entrusted: Building a Legacy That Lasts by David R. York and Andrew L. Howell
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