Most of us desire to be in a complementary relationship—one in which our partners bring out the best of us.
This could mean through your health, attitude, along with other manners of personal growth. Without question, money plays a huge role in our relationships too. Lexington Law’s study confirms it. And because money is such a vital part of your relationship, it also is one of the top causes of friction between couples.
How does money affect relationships
The study points out that when one and five couples get into an argument, at least half of the time spent arguing is over money. Frequent conflict about this subject adds stress into the relationship. This strain builds up over time, erupting into resentment or a breakup.
Since money is a huge part of your relationship, you must analyze how having a partner influences your and your partner’s spending habits.
Among the surveyed couples:
In 1/3rd of couples one partner influenced the other to spend less
In this manner, having a partner is beneficial to your bank account. Sometimes, the people in these relationships have a higher sense of well-being—if they know that their partner is more responsible with their money. Do you influence your partner’s spending habits or they affect your? Any which way if you motivate each other to spend less, that is great for your finances
18 % claimed that their partner influenced them to spend more
Only 18 percent of these couples claim that their partner has a negative influence on their bank account. Unfortunately, the couples that felt like their partner wasn’t responsible with money, felt less committed to the relationship. If your partner spends more and encourages you to do the same, this how your partner’s spending habits affect your relationship.
In 32 % couple partners don’t influence each other’s spending
A closer look at this stat reveals that those in the 45+ age category reported that they felt the least influence. Mature couples have good knowledge on how should married couples split finances.
Talking about it with your partner
For most couples, money is a touchy subject. If you have different views, it’s easy to allow your way of thinking to disrupt the relationship you have with each other. But communication is vital when you both want to work things out.
If you’re both clear on how money should go around in the relationship, it makes it much easier for you two to focus on the positive attributes of your relationship.
Here are some outstanding ways to stay on the same page:
1. Make a date out of it
Vanquish the taboo that arises when talking about money with your significant other, by making a date out of it. Turning this conversation into a date makes it a less daunting task to take on.This is a good tip for discussing your partner’s spending habits.
2. Set up a regular check-in
54% of people in healthy marriages talk daily or weekly about money. A regular check in with each other, one that’s marked on the calendar, keeps everyone together. Keeping a tab on your own and your partner’s spending habits is a good practice.
3. Discover where both of you are willing to compromise
For example, if one of you prefers name brands, consider buying secondhand or shopping at an outlet mall. You can improve your own and your partner’s spending habits by making more economical choices.
Money plays a significant role in your relationship and how you handle money. But just because this is the case, doesn’t mean you must always bicker back and forth about money with your loved one. Unsolved stress can result in a broken relationship.
But if you’re transparent about your own and your partner’s spending habits and maintain proper communication, you’ll learn more about your own spending habits and forge a stronger bond together.