Benefits of Financial Planning as a Couple

No matter how long you and your significant other have been together, financial planning will always have its benefits. Here are a few tips to helping you and your other half plan for hitting your shared goals.

 01: Communicate

One of the most important parts of financial planning is simply communicating with one another. Sit down and discuss what your ultimate financial goals are that way there are less surprises when you spend.

 02: Check-Ins

Communication is a constant, so having a scheduled check-in chat with each other is ideal. How often you want these to happen is a decision only you as a couple can decide, but having a fully engaged financial discussion at least once a month is probably ideal. Be organized for the meeting with a list of topics you want to discuss and also make sure you get rid of any distractions that might deter from focusing on the discussion at hand.

 03: Support

It’s a good idea not to be demanding of your sweetheart; no one enjoys hearing about their mistakes. So, instead of focusing on the negative, give your other encouragement and stay focused on what your financial goals are. Perhaps check and see if there are any purchases that you yourself can cut back on in order to help your significant other out.

 04: Appreciate and Understand

Each person is different and along with it you may each have a different perspective on money spending than one another. Try to understand where they’re coming from and value them. One of the worst things you can do is criticize their ways. Who knows? You might just end up liking their ideas after all.

 05: Take Action

Once you have discussed your ideas and goals with each other, you can hopefully rest easier knowing you have a better financial plan in order. Another option is to meet with a financial advisor who can help by reviewing your financial budget.

If you would like to schedule a meeting with a MassMutual Financial Advisor then call Marjorie Schieser at (925) 979-2310