10 Important Money Habits of Highly Effective Couples

Being a financially effective couple has nothing to do with being rich. It has to do with managing the money you have and allocating it effectively toward the things you value and want to do in life.

10 Money Habits of Highly Effective Couples

1. Understand You’ve Shared Vs. Personal Expenses

This can help you eliminate spending on some things you’re both paying for (it happens!) and get a sense of your actual shared bills to utilize your joint account better and start spending as a team.

10 Money Habits of Highly Effective Couples

2. Know Your Strengths and Weaknesses 

Let’s face it; not everyone comes into a relationship with all the financial know-how. Rather than expect the more free-spirited person to become the master of spreadsheets, think about how they can best contribute to the financial relationship.

10 Money Habits of Highly Effective Couples

3. Understand Your Needs, Wants, and Goals

By creating buckets, for example, using the 50/30/20 rule (50% on needs, 30% on wants, and 20% to savings), you can start effectively planning with your money rather than just saving and spending sporadically.

10 Money Habits of Highly Effective Couples

4. Learn Each Other’s Money Stories

Taking the time to learn each other’s money stories and how their attitudes developed over the years can help couples build intimacy and understanding. There are fun ways to learn each other’s money stories.

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