Talking Money with your Partner
Being a financial planner, I can spend all day and night talking about money, finances, and the economy. My partner on the other hand, while he has a great understanding of money, finances, and stays interested because he loves me, would rather not have 99% of our conversations focused around these topics. So after hearing The Money Couple speak about Money Huddles, time set aside in your calendar to talk about finances with your partner, I realized we needed to make our money discussions more effective by scheduling specific time to discuss these topics.
So about a few months ago, we started doing weekly Team Huddles (we changed the name since Brandon relates more to sports than money). We talk about money, our short and long term personal and financial goals, and also anything else that is going on within our relationship. So instead of me bombarding Brandon nightly about financial topics, we now table those more detailed conversations for our Team Huddles where we can commit our full attention to the discussions at hand.
Since we have been doing the Team Huddles, we have found that our communication has gotten even stronger around the things that we value most. It does not mean we always agree, but at least we both feel we can dedicate 100% to communicating our various opinions and thoughts on each topic. Brandon has indicated several times now that he loves the Team Huddles, feels less ambushed with money talks, and it allows him time to get on the same playing field (another sports analogy). For me, the main value has come from the fact that I know we are communicating about these important topics in an effective manner on a very regular basis.
I encourage you to schedule your first Team Huddle with your significant other if you aren’t doing it already. The first item on the agenda might be to identify your money personalities. You can use the resources from Money Couple website. Candace Bahr, CEA, CDFA of WIFE.org also shares some ideas for making your money talks peaceful, pleasant, and productive. Learn more here. If you have kids, I would also suggest doing family huddles where you start to incorporate your children into the financial decision making.
Cheers to your first Team Huddle!