How to Talk About Money with Your Honey

My father is a licensed Marriage and Family Therapist, and he’s been working with couples for over 35 years.

Couples seek therapy for many reasons, but the two reoccurring issues he’s noticed have been: problems with money and problems with sex.

According to Psychology Today, arguments about money can be one of the leading causes of divorce. In the past 35 years, our society has become much more comfortable with talking about sex, but we haven’t become much more comfortable talking about money.

That’s what I do every day. I’m a Certified Financial Planner™ and I talk to people about their money—how they’re spending it, how they’re saving it, how to invest it, and how to talk about it.

Want to know the secret? Communication is key. Here are 5 ways to improve how you communicate with your spouse about money:

1. Determine Your Goals and Values Together

Sit down with your spouse and talk about what’s important to you. What do you value as a family? Write these things down. It’s a time to listen to your partner and write down matters what the most to them.

Share why your values are so important and why you want them to be central to your family, then take a look at your bank accounts and see if your spending matches your values. If there is a disconnect, then it’s time to make some changes.

Next, spend some time discussing your short-term and long-term goals. If you want to plan a summer vacation next year, buy a cabin in 10 years, or save $20,000 for your child’s education, these are important things to talk about so you can start planning for them.

2. Talk About Money on a Regular Basis

So many people use the phrase, “We need to talk,” to indicate that they’re not happy about something. If you only talk about money in a negative light, then you will continue to have a difficult time talking about money.

Maybe you associate money with shame, secrecy, greed, fear, or another negative emotion. It doesn’t have to be that way. Money can mean stability, freedom, opportunity, or any number of positive emotions. The way to become more comfortable talking about money is to talk about money on a regular basis.

3. Set a Weekly Money Date or Go on a Walk Together

I know couples that have a weekly money date with each other where they talk about their budget, upcoming expenses, savings goals, etc. This is a great way to focus on the positive changes you are making on your finances instead of dwelling on the negative.

My husband and I invest in our relationship by going on financial walks and talks. It’s a way for us to discuss the big picture items like our goals, values, upcoming expenses, and dreaming about our next vacation. This has done wonders for our relationship and our savings account!

We are both much more willing to cut back on our discretionary spending if we know we’re going to be able to use the money towards our next trip.

4. Be on the Same Team

I’ve known married couples that manage their incomes and expenses almost entirely separately, and this doesn’t work as well as the couples that manage their money together. You can each have your own spending money, you can each save for goals than are important to you personally, but you need to remember this: You are on the same team. It’s time to help your teammate.

Some people don’t like to hear this, but you will reach your financial goals 10x faster if you manage your money as a team. For example, it’s really easy to point fingers and say, “Well, he’s the problem because he won’t stop buying things,” or “She’s the problem because she won’t stop going out to eat.”

The truth is that neither of you are the problem; the debt is the problem. Stop blaming each other. Instead, team up against the debt and you will solve this problem quicker than you ever imagined. Working together as a couple on your finances will also help you plan for major purchase, taxes, and most importantly, retirement.

5. Bring On a Third Party

If having a conversation with your partner about money always leads to arguments, then it’s time to seek some advice from a trained therapist or counselor. It may also be beneficial to find a financial planner who you can help formulate a comprehensive financial plan to help you reach your goals together.

My client couples who are the happiest are the ones who communicate with their partner about money on a regular basis and who consistently use their money to match their values. Start by taking a small step forward: Go on a walk together.

What other useful tips do you have for talking about money with your honey?

Want My Free 31-Step Money Guide*?

Subscribe for free. Get my guide *31 Days to Improve Your Financial Life, welcome series, and regular Five Things digest. Join 30,000+ other followers.

Powered by ConvertKit

About Sophia Bera, CFP

Sophia Bera, CFP® works with clients all over the U.S. and is passionate about bringing financial planning to Gen Y to empower her generation. She is the Founder of Gen Y Planning, which aims to deliver comprehensive financial planning advice to people in their 20s and 30s for the price of their gym membership. Sophia has been quoted on various websites and publications including Forbes and Fox Business.


    Speak Your Mind


  1. Tom Wachowski says

    An outstanding tool to get couples on the same page about money (no affiliation, I just use it myself and recommend it to families), is the Values Based Financial Road Map by Bill Bachrach (Google it). It gets right to the deep, intimate, real views on finance and helps each spouse empathize with the other… Ultimately getting a couple running in the same direction. I love this tool… It’s saved us tens-of-thousands of dollars in missed mistakes and put us on the track to real wealth… together!

  2. AlexaSorokin says

    I love this article! Couples may feel like their finances should be separate, but they reach all new hurdles when they move in together, get married, or take care of a child together. Therefore, it’s important for them to talk finances together. Especially when it comes to savings goals. If both partners are equally dedicated to saving they are much more likely to be financially fulfilled.

  3. SenseofCents says

    This is a great post! Money should definitely be talked about on a regular basis. We are very open with our finances, however, I do know of many couples where they NEVER talk about money.

  4. Great advice Sophia!  I’m not married, but for years I watched my parents struggle as my dad took on the burden of dealing with our family finances.
    The day that they opened up and started dealing with them as a team was monumental.  I can’t begin to tell you how big an impact this has made in the last several years in our fam!