Why It’s Important to Talk to Your Spouse/Partner about Money

(This is a guest post by Reginald Garth, Operation HOPE Financial Wellbeing Coach)

You and your spouse or partner may not always agree on how to spend money. But it is important to work together for mutual benefit.

Why is it important to talk to your spouse/partner about money? Because financial savings also translates to relationship savings. When you talk to your spouse/partner about a household budget, understand that you are not limiting one another or pointing out that one of you might make more money. You are including one another in the financial stability and future of the household.

Planning for a vacation, a move, college, or major purchases like home improvements or a new car… It all takes a budget. And with two people in the household, the two should come to an agreement together. This means coordinating how much is set aside for savings and spending. Including each other in planning reduces tension, reduces debt, increases savings, and saves your household from financial despair. We offer these services to help families get better at making financial decisions.

Photo: Getty

Here’s how you can start:

  • To get 1-on-1 counseling on planning your finances, please call 314-622-4700 and ask for Operation HOPE.
  • We also provide free classes workshops at the Office of Financial Empowerment. Check it out at https://www.stlofe.org/event-calendar/

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