Amor Y Dinero

Love And Money

Financial Advisor to Answer Your Questions on Love and Money

Can falling in love cost you a lot of money?

When falling in love and starting a new relationship, many couples hit financial bumps on the road of love. Money and love are equally important. Mixing finances with romance can be tricky. Many couples haven’t had the “money talk,” before moving in together or getting married. This can be a cause of arguments, resentment, and long term financial problems.

The Financial Side of Love

Coming together as a couple means you are now financially linked. Being financially compatible can often determine the success of a relationship. Coming together as a couple means you must discuss how to handle finances together. Conversations should include goals, budgets, spending habits, debt, credit, and investments.

A survey conducted by Fidelity Investments, found 40% of couples argue about money at least once a month. To avoid arguments about money, always be open and honest about your financial situation. Never keep financial secrets from your partner. Always share important financial information, such as pay stubs or bank statements.

Financial Incompatibility Can Harm Relationships

Couples can overcome many issues in a relationship. Financial incompatibility can be a deal-breaker in a relationship. When one person is a saver and the other is a spender, it can lead to a lot of issues. Couples can overcome financial incompatibility by coming up with a financial plan that works for both parties. Open and honest communication is the best way to overcome financial incompatibility.

Keep Finances Separate

Keeping finances separate can help couples avoid arguments about money. It can also help protect both parties in case of a breakup. Keeping finances separate may not work for all couples. For some couples, it can help them avoid financial problems.

Conclusion: Amor Y Dinero

Love and money can be a tricky combination. You can avoid many problems by discussing finances before moving in together or marriage. Being open and honest about your financial situation is essential. If you are financially incompatible, always try to work out your problems through open and honest communication.