Independent Financial Life Planners Bishop's Stortford: Healthy finances for healthy relationships

Thursday, 13 February 2014

Healthy finances for healthy relationships

With Valentines Day upon us again Enable’s IFA’s wonder if it might be worth reflection on some key steps thought to maintain healthy finances for your relationship.

Most relationships especially if you’re married or living together, will have experienced “a money fight”. One of the biggest causes of problems in relationships is differences in values and goals and habits when it comes to money, and especially communication about money issues.

Money can’t buy you love, but we have all seen it tear relationships apart. Two simple steps can help alleviate the risk of this happening firstly learn how to talk about money with your partner, and secondly learn how to align your financial goals. If you can do those two things, you’ve done more than most couples, and you will have taken a significant step in the right direction to keeping your relationship on solid ground.

Then make sure you develop a system for finances that works for both of you. In order to put your financial plan into action, you’ll need to work out how you’re going to pay your bills, pay debt, deposit into savings, have money for extra expenditure treats adventures and hobbies. You can think about each taking responsibility for each part of the system (it’s better if you’re both involved, but you should find what works best for you as a couple).

Some couple even have weekly financial meetings. Just because you have common financial goals and a plan and a system doesn’t mean that everything is fine it still has to run and be reviewed. One way of having regular catch ups is for couples to see their Independent Financial Advisor together. Enable know that by working together as a team families achieve better financial outcomes.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

No comments:

Post a Comment

IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.