4 Ways to Achieve Financial Honesty in Marriage

Valentine's Day is a time to express love for your significant other. What if this year you did something out-of-the-box? What if you and your partner decided to get intimate…about finances! One of the leading factors in successful relationships is communication. Learning to communicate affectively about money, planning, and the future could lead to a lifetime of happiness.

1. Involve Your Partner in Planning

Too often, one member of a couple tends to handle all the financial planning. While it can be efficient to divide tasks and duties, such as who pays the bills, who picks up the kids, and who feeds the dog, financial planning is a task that takes time and consistent effort. Sitting down and discussing where money is invested, when you can anticipate to retire, and how much you need to put away to retire at the anticipated date are subjects that should be openly discussed.

2. Include Them in Daily Money Management

It can be just as important for your partner to be involved in daily money management. If you are sacrificing and saving while your partner is spending, it can lead to resentment and tensions in the relationship. Make sure to line out due dates on bills, make a budget for entertainment, and plan your meals by making grocery lists. Little things like this can actually help you save money and put your relationship on a path towards happily ever after!

3. Make Sure Your Loved One is Taken Care of

Another way to achieve financial honesty is to purchase life insurance. Having life insurance these days is a no-brainer, but making sure you have adequate coverage is something that not everyone is aware of. Discuss the possibility of things going awry with your partner and design a life insurance plan to ensure they're taken care in case the worst of the worst happens.

4. Help Your Significant Other Educate Themselves on Finance

As in any great relationship, you help one another grow and learn through life experiences. Make a consistent effort to help your partner educate themselves on finances through sharing informative blogs, podcasts, videos, etc. Financial health is a long-term plan, so continue to look for ways to develop that part of your relationship!