If you both want to save money, get out of debt, live within your means, and attain mutual long-term goals, it's important to discuss your different approaches to money management and find some common ground.
Otherwise your frugal efforts may be voided by your partner's poor spending habits.
Children can also be difficult to win over.
If you listen carefully, you can probably still hear the echoes from the latest whine-fest: "But I want it now!" Wouldn't it be nice if everyone were exactly the same? Well, actually not.
You probably wouldn't want to live in a boring world of identical clones that look, think, and act exactly alike.
Variety is the spice of life, and it's also the spice of relationships, even in the area of finances.
Just like the ingredients in your favourite meal, the right amount of spice can make the mix of flavours absolutely perfect - but too much spice is almost unbearable.
You don't need to do away with each and every difference; you just need to blend the flavours together.
Resolving (or at least discussing openly) any financial differences between you and your partner are important.
Above all else, it's important to discover the art of diplomacy when you identify significant financial differences between you and your partner.
Money problems are the root of all sorts of marital discord and strife.
Even when you're in the middle of a major disagreement about finances or your savings goals, the relationship doesn't have to break down if you continue to treat each other with kindness and respect.
You will never convince people to change their minds by yelling at them, calling them names, manipulating their emotions, or giving them the silent treatment.
If you are the big spender in the relationship and are already convinced of the need for financial change in your life, the road ahead is much easier.
Unfortunately, reforming a loved one from their spend thrift ways can be difficult and requires a lot of sensitivity and tact.
Don't allow yourself to become adversarial with the spender in your life.
Instead, be reasonable and show how adopting frugal habits can reduce outstanding debt, free up money for fun activities such as short breaks, and help to finance large future expenses such as buying a house or paying for the education of a child.
One way for partners who each have their own income to deal with differing money habits is to open three checking accounts: one joint account (for paying bills) and an individual account for each person.
When you receive your pay checks, you each deposit a predetermined amount into the joint account.
The joint account is then used for paying bills and for short-term savings for future expenses.
The individual accounts are for the money left after you both pay for the basic essentials.
If one partner wants to fritter his money away on designer coffees and video rentals, fine.
The other person can be happily saving for that nice vacation she's been dreaming of for years whether she chooses to take the spend thrift spouse with her on holiday may be another story, though.
If you're currently involved with someone and considering a serious commitment, or if you've never discussed your spending habits with your spouse or significant other, take some time to talk about your financial mindsets.
Identify your differences and spend some time planning how you want to handle them in your relationship.
By dealing with your financial differences, you'll not only cut down on arguments later in life, but you and your partner will become a united front working for common personal financial goals.
Otherwise your frugal efforts may be voided by your partner's poor spending habits.
Children can also be difficult to win over.
If you listen carefully, you can probably still hear the echoes from the latest whine-fest: "But I want it now!" Wouldn't it be nice if everyone were exactly the same? Well, actually not.
You probably wouldn't want to live in a boring world of identical clones that look, think, and act exactly alike.
Variety is the spice of life, and it's also the spice of relationships, even in the area of finances.
Just like the ingredients in your favourite meal, the right amount of spice can make the mix of flavours absolutely perfect - but too much spice is almost unbearable.
You don't need to do away with each and every difference; you just need to blend the flavours together.
Resolving (or at least discussing openly) any financial differences between you and your partner are important.
Above all else, it's important to discover the art of diplomacy when you identify significant financial differences between you and your partner.
Money problems are the root of all sorts of marital discord and strife.
Even when you're in the middle of a major disagreement about finances or your savings goals, the relationship doesn't have to break down if you continue to treat each other with kindness and respect.
You will never convince people to change their minds by yelling at them, calling them names, manipulating their emotions, or giving them the silent treatment.
If you are the big spender in the relationship and are already convinced of the need for financial change in your life, the road ahead is much easier.
Unfortunately, reforming a loved one from their spend thrift ways can be difficult and requires a lot of sensitivity and tact.
Don't allow yourself to become adversarial with the spender in your life.
Instead, be reasonable and show how adopting frugal habits can reduce outstanding debt, free up money for fun activities such as short breaks, and help to finance large future expenses such as buying a house or paying for the education of a child.
One way for partners who each have their own income to deal with differing money habits is to open three checking accounts: one joint account (for paying bills) and an individual account for each person.
When you receive your pay checks, you each deposit a predetermined amount into the joint account.
The joint account is then used for paying bills and for short-term savings for future expenses.
The individual accounts are for the money left after you both pay for the basic essentials.
If one partner wants to fritter his money away on designer coffees and video rentals, fine.
The other person can be happily saving for that nice vacation she's been dreaming of for years whether she chooses to take the spend thrift spouse with her on holiday may be another story, though.
If you're currently involved with someone and considering a serious commitment, or if you've never discussed your spending habits with your spouse or significant other, take some time to talk about your financial mindsets.
Identify your differences and spend some time planning how you want to handle them in your relationship.
By dealing with your financial differences, you'll not only cut down on arguments later in life, but you and your partner will become a united front working for common personal financial goals.