Valentine’s Day is all about romance. Or, if you are more cynical, the commerce of romance. Buying flowers that are double the price they were last week, presents to show just how much you love someone – and the more you spend the more you love them. Apparently!
Romance and attraction can only take you so far. You can be compatible by liking the same music, TV shows, holiday destinations, and even sport. But are you financially compatible? One of the biggest causes of arguments in any relationship is money so, whatever stage you are at, how you handle your finances affects both your relationship and your bank balance.
Sharing your finances can lead to harmony and eradicate misunderstandings. So, it is important to understand the state of your finances. Keeping secrets away from a partner is divisive. Moving forward generally means commitment in terms of mortgages, joint loans, and even credit cards, where both parties’ financial affairs are taken into consideration. If you are meant to be together then your partner will work with you to find a solution.
How do you want to run your day to day finances? Some couples have the same bank accounts, and some have separate ones. Others have joint accounts just for household expenses. It’s not uncommon to split bills or even agree that a proportion of your income contributes to your living costs. How you agree to handle your money is important in preventing any kind of resentment.
Only once your everyday finances have been agreed can you start to work on your future. Working out your life goals, deciding how the life you want to live looks like, and starting to create the memories that you can look back on with fondness and love in future years.
Preparing for this, and having the skills to work everything out, is not easy. And that’s where the professionalism of a Wealth Strategist comes to the fore. We take an objective look at your finances and then work closely with you over time to ensure that your financial dreams become a reality.
Now, we are not suggesting for a moment that you surprise your other half with a present they will never forget – a meeting with a Wealth Strategist. That would be a recipe for another Valentine’s Day massacre. But if you would like to build the basis of a sound financial future that creates memorable experiences then please get in touch and we can start to put you on the road to harmony and understanding.