Craig Torr
2 minute read
12 Mar 2020
8:49 am

How to tackle the money issue in your relationship

Craig Torr

One-third of couples report that money is a huge source of conflict in their relationship, but while fighting about money may be common, the source of the tension can be varied, making it difficult to find ways to resolve the conflict.

Here are the most common reasons: Financial education Differing levels of financial education and literacy between partners can be a source of tension. It may be that one partner has a good understanding of how investments work, the dangers of debt, the power of compounding interest, the need for budgeting and daily money management, while the other partner lacks basic financial literacy and/or shows little interest in learning about it. What to do: The starting point is to agree that managing the household’s finances is a joint responsibility. Although one partner may have a greater inclination for finances, it doesn’t...