Getting Financially Naked with A New Partner
On this episode of Financially Naked: Stories from The Financial Gym, our host is Catriona Williams, Certified Financial Trainer, and she is joined by FinGym client Tina. With Valentine’s Day coming up, we’ve got love on our minds. Tina has been in a relationship for just under a year. She is here to share how she and her partner have navigated money within their relationship at the early stages and how it’s set a solid foundation for the future they plan to have together.
Podcast Notes
Before this relationship, Tina had been single for a while, going on some dates here and there. Now, they’ve been in a relationship for ten months.
She brought up money pretty early on. They met shortly after tax season when Tina found out she had an unexpected bill. She wanted to be honest about what was going on and share how she was being proactive in working with a Financial Trainer.
Money is highly emotional, and it can be challenging to have these conversations, especially in new relationships. The conversation went great, and he was immediately supportive and on board with the plan.
Tina is impulsive and tends to be a spender. Her partner is debt-free and has been a saver. Their opposite styles balance each other out. They’re both freelancers and understand the inconsistent nature of their work. She saves more money now than she did when she was single.
Why is talking about money important?
As a Financial Trainer, when Catriona’s clients mention a new relationship, she clocks that information. Relationships can be a significant life change and affect spending habits.
People are more comfortable getting physically naked than they are getting financially naked. It’s important to feel comfortable with your partner, especially when it comes to money conversations.
Money is one of the ultimate taboos, which is why talking about it is important. Don’t be afraid to talk about money with your friends. People often feel like they’re the only ones with debt or struggling financially. It can be a relief to know you aren’t alone.
Budgeting is about being able to choose. When you focus on what is important and spend less on the other areas, you open up more money for your priorities.
Finance is one of the leading causes of divorce and relationship stress. Don’t avoid talking about money with your partner.
Final Thoughts
As long as everyone is comfortable, there is no wrong system for managing your finances as a couple. Whether you have shared accounts, split certain expenses by type, or Venmo each other back and forth, it’s about finding what works for you.
If you’re in a relationship, you are a team. Money is emotional, and the more you practice talking about it, the easier it becomes.
Things do not have to be ‘equal’ they just have to work for the people in the relationship. You can check in with each other and make changes as your priorities change.
If you want to work with a Certified Financial Trainer to help navigate your finances as a couple, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Connect with Tina
Instagram: @teenziano