If you’ve been in a long term relationship before then you know quite well that in reality things aren’t always perfectly peachy. Healthy relationships must have a lot of support, compromise, honesty and a willingness to have difficult conversations. One of the most commonly challenging topics for couples to talk about is money. With the right approach and some practice, however, getting on the same page about your finances doesn’t have to make you feel like you are on a battlefield.
It is very important to talk to your partner about your separate and combined accounts. Studies show that couples are happier when they can talk to each other about money and understand each other's feeling and concerns about the monetary goals together. Taking quality time to set monetary goals together is also a great way to build trust and address fears, join forces and set your relationship up for long term success.
Start early and lay everything out for each other to understand. Don't assume you should wait till after you are married to talk about money related matters. Discuss taking out Life Insurance or a Burial policy on each other, it is better to break that ice well before marriage. Always define your shared goals being it short or long term aspirations. Once you have set the goals, now is the time you want to prioritize time. Look into an Annuity policy as a long term investment that is designed to help protect you from the risk of outliving your income. Look for ways to utilize your forces and maybe combining your incomes and assets together versus separately. Sharing the same priorities can help you stay unified as a couple and avoid unhealthy and unpleasant surprises.
Reward your progress, don't underestimate the importance of looking over your mistakes together this will help you brainstorm solutions to help avoid the repeat of a pitfall. If you made some mistakes don't give up, own up to them and identify what went wrong and why. Celebrate your success once a month by coming together over a nice dinner or a movie. Don't let the stress of life ever come between you and your partner.