January 5, 2024
Whether you’re getting married, moving in together, or just getting serious about money, it’s always a good time to start discussing finances with your significant other. Our financial advisors sometimes find themselves helping couples unravel problems caused at least in part by a failure to communicate. Here are five tips to help talk about money with your Valentine.
One: Create Goals Together
One of the best ways to create a platform for great money discussions is to work together to create shared goals. That way, when you talk about why you want to do certain things with your shared money, you have established what exactly it is you are working toward.
Two: Understand Your Different Money Styles
Many people in relationships find that they grew up in a household or have past experiences that give them a different perspective than their partner. If your significant other has unique practices about money, work to show that you understand instead of trying to criticize or change them.
Three: Be Organized
To get the most out of your financial talks, it helps to not only have easy access to your important financial papers or data, but also to make a list of the topics you want to discuss. This will keep the meeting focused and carve out a more efficient path to finding solutions.
Four: Don’t Bring in Outside Issues
Do your best to not bring non-financial qualms to the table when you have your money talks. They only make it harder to achieve successful outcomes with your money.
Five: Speak With Our Financial Advisors
Speak with our FirstLight financial advisors! Our advisors are trained in reviewing budgets and other financial information to help you get on a solid financial path. For more information learn about our Balance Program
or visit our website www.firstlightfcu.org
About FirstLight Federal Credit Union
FirstLight Federal Credit Union is a local financial cooperative serving over 109,000 members in the El Paso, Fort Bliss, and Las Cruces communities. Founded in 1955 by nine pioneers to help military and civilian personnel, the credit union has grown to $1.5 billion in assets serving El Paso, TX and Doña Ana, NM counties. Since 2018, the FirstLight Community Foundation has donated $100,000 in student scholarships while providing funds to local food banks to mitigate food insecurity. For more information about FirstLight or our Community Foundation, visit www.firstlightfcu.org.