How Budgeting Makes You A Stronger Couple
Are you and your partner toying with the idea of going on a serious budget? You’ve crunched the numbers and come to the conclusion that you’re just not going to reach your savings goals—at least not by the time you’d like to. You could just say, “Well, maybe one of us will make it big or get a huge raise and we won’t need to worry about this.” But you shouldn’t make financial decisions today based on a maybe of tomorrow. Spend and save based on your current financial reality. And know that many Americans are not saving enough to retire by 65. Do you want to be working and working hard at age 65? You’re tired now, and you’re probably much younger than 65. The nice thing about being in a relationship is that you and your partner can encourage one another in your saving goals. You won’t end up with just more money—you’ll actually end up with a better relationship. Here are ways budgeting makes you a stronger couple.
You increase trust
You likely have to link certain accounts and exchange certain passwords so you can share spending apps, look at various credit cards, and the like. So you’ll instantly boost trust with that exercise.
You improve communication
You’ll need to touch base regularly and find diplomatic ways to talk about sensitive matters. It’s not easy to tell your partner that he needs to cut back on this or that habit, nor is it easy to receive that note.
You talk about the future
Budgeting talks naturally lead to talks about the future. Do you want to buy a house? Where? What kind of house? You can get those disputes out of the way now. What about kids? Do you want them? When? How many? Budgeting talks bring these topics up.
You invest in your future, together
It feels good to make decisions and changes that you know are not just for you, but for a future you’ve dreamed up with your partner. Every time you use that coupon or don’t buy that thing, it’s for a combined life with your loved one.
You get creative about date night
You’re forced to get creative on date night. You can’t just rely on concert tickets or going to the movies. But it’s good—it brings out your childish sides.
You cook together
You also cool it on all the delivery and have to cook more. But cooking something together has a way of bonding you. Cooking is very sensual, and you sort of build something together.
You learn you can be happy with little
You’ll surprise yourselves. You’ll like finding that you’re actually happy with little. If you’re really in love, then all you need is one another to be happy.
You get real about your habits
If you have bad habits, like indulging in too many spa days or buying designer bags, it’s time to get real about those. Your partner will point them out, and you’ll have to own it. It will sting at first, but you’ll be stronger for it.
And why you have those habits
There’s often a deeper reason for overspending. If you’re not happy in your job or with your social life, you may be compensating by shopping. If you’re having a hard time kicking a bad spending habit, budgeting will bring up these conversations.
You strip away facades
You and your partner will strip away facades. You may not be able to afford the facials and manicures. He can’t afford to spoil you. You’ll rediscover those core traits you love in each other—without money covering them up.
You impress your in-laws
Your in-laws will love to hear that you’re budgeting. It shows them that you care about the future of your family—their grandchildren. And, if they planned on passing money onto you and your partner, they’ll like knowing that you’ll handle it responsibly.
You’ll always have these skills
Once you develop budgeting skills, you can turn back to them any time. Should someone lose a job or get a pay cut, you’ll know you have these skills in your back pockets. It offers a sense of security.
You learn who your real friends are
Will your friends adapt to your budgeting? If you can’t go on expensive outings with them, will they attend your potluck dinner? Will they live the discount life, just to hang out with you?
You can discuss earning goals
You can also discuss earning goals with your partner. Do you want a raise? What could you do to deserve it? What do you want overall for your career? What are your dreams? You’ll discuss these, as a part of discussing money.
It humbles you
Living on a budget humbles you. Saying the sentence, “We can’t afford that right now” makes you modest. Being a little more humble can never hurt.