Amor y otras cosas: Finances in a Relationship

Amor y otras cosas offers financial advice for relationships to help address the topic of finances.

José Luis López Velarde provides a perspective to help you with this delicate issue.

The topic of finances in a couple is key to a good relationship, but poor management could generate conflicts.

Today on «Amor y otras cosas», we are going to address a topic that is often considered taboo, but that can be crucial to maintaining a solid couple’s relationship: managing money in the relationship.

Money can be a source of tension and conflict in couples, but if approached properly, it can further strengthen the bond between both partners.

Implicit Signals in Financial Relationship. The management of money in a couple often relies on implicit signals rather than open conversations. Personal beliefs about money can influence the relationship.

For example, some people may feel that they don’t deserve money or that those who have a lot of money are dishonest. This can lead to implicit agreements on who pays for what in the relationship.

Finances in a Relationship

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When you start dating someone, it’s common that there are no detailed conversations about money, as both maintain their lives and finances separately.

As the relationship progresses and the possibility of living together, getting married, or making long-term plans is considered, that’s when it becomes crucial to address the topic of money in a more open and planned manner.

Financial Management in Marriage. In a marriage, it’s considered that the money belongs to both.

The idea is that together they are building a life and a home, so financial resources should be treated as a joint resource.

Communication in Financial Matters

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This implies total financial transparency in terms of both partners’ income, expenses, and savings.

Financial decision-making should be done as a couple, taking into account the shared financial goals and objectives.

This doesn’t mean that every expense has to be discussed exhaustively, but both should be informed and committed to joint financial management.

Roles in Financial Management: In a marriage, roles in financial management can be divided according to each one’s strengths and preferences.

Finances with your partner

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One may take care of managing investments, while the other focuses on budgeting and daily expenses. The important thing is that both work as a team and are committed. To help you with some issues, here are a couple more financial tips for the couple’s relationship.

Getting Insurance: Having major medical expense insurance and car insurance is essential to protect against unexpected events that may affect the couple’s health or financial assets.

Investing for the Future: Saving alone is not enough. Money left over after covering basic needs should be invested to generate long-term financial growth.

Investment should be aligned with the life stage and financial knowledge level of the couple.

Marriage Should Multiply, Not Divide

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Assigning Roles in Investment: One partner can take care of looking for investment opportunities, while the other can oversee and follow up on those investments.

It is important to work together as a team to maximize financial resources.

Conclusion: Managing money in a couple can be a sensitive topic, but addressing it in an open and planned manner can strengthen the relationship.

In a marriage, money is considered a joint resource, and financial transparency is key. José Luis bids you farewell and hopes this information contributes to improving finances. See you next week on «Amor y otras cosas»!