How To Peacefully Merge Opposite Money Personalities

Imagine how boring life would be if we were all exactly the same. If we all had the same interests, preferences, hobbies and personalities. Life would undoubtedly be very predictable and boring. Of course this is not a concern as each person has their own unique take on the world and their place in it. This makes for interesting relationships and challenging dynamics within families, friends and couples. In most cases we find ways to overcome conflicting personalities to live in harmony with one another. There are times however when two personalities are so different that it becomes impossible to coexist in peace. When it comes to money personalities it is possible for couples to work together and find an agreeable compromise if they are willing to put forth the effort. Here are a few tips to help opposite money personalities find the middle ground.

• Communication- The foundation for all successful relationships begins with an open line of communication. Whether you are talking about religion, dreams, goals or money it is important that each person be open and honest with there partner. Not only should you understand how your mate feels about money (saving, debt, credit, spending) you should also disclose your financial history with one another. Some people may feel that their financial history is just that history, however it is unfair to expect your partner to enter a relationship without knowing if you are saddled with thousands of dollars of debt or if you are independently wealthy. If someone judges you by your financial position you should know it before continuing the relationship.

• Establish mutual goals- If you are a spender and your spouse is a saver it might be hard to think of goals that you may have in common. This is where communication is important. There will be no harmony in a house where one person wants to spend every cent and the other wants to stash it all away in retirement accounts without establishing mutual goals. Sit down and talk with one another to find the things you both want to accomplish and what you need to get there. This can help the spender save and the saver spend to help reach goals.

• Share responsibility- There are many different ways couples manage their finances. Some people join finances and expenses and pay everything from one pot. Others feel better keeping some things separate. Regardless of your setup, each partner should have a role in budgeting, managing and paying joint expenses. Otherwise the person who always has to make the numbers work might end up resenting the responsibility (and stress) while the partner that has no role in bill paying may begin to wonder exactly where the money is going.

Financial differences and the stress they cause play a huge role in the demise of otherwise good relationships. While it can be beneficial to merge money personalities in that each person can complement the other’s strengths and weaknesses, you must be willing to compromise and respect each other’s unique view.