Why Valentine’s Day Brings Up A Time to Talk Finances
Valentine’s Day is often filled with flowers, dinner, and chocolate but beyond the gifts and gestures, it’s also a time to strengthen your relationship in meaningful ways. One of the most significant aspects of a strong partnership is financial harmony. While money conversations may not seem romantic, they are crucial for building trust and aligning your future goals as a couple.
Valentine’s Day is about celebrating your commitment to each other and financial planning is an integral part of that commitment. Discussing finances shows that you are invested in a future together and willing to be transparent about your financial habits, goals, and pain points. Whether you’re dating, engaged, or married, setting financial goals together helps shape your future. Are you planning to buy a home? Thinking about starting a family? Looking at joint investments? We know life gets busy and complicated , so take advantage of time together to discuss these items you may not be thinking about on a day to day basis.
Money remains one of the top causes of stress in relationships. Addressing financial matters openly can prevent misunderstandings and set a foundation of trust. Rather than waiting for financial challenges to arise, proactive discussions help establish a game plan. So let’s explore some discussion topics you can start with:
1. Understanding Each Other’s Money Mindset
Everyone has a different relationship with money, shaped by their upbringing, experiences, and habits. Discuss your views on saving, spending, investing, and financial priorities. Are you a saver while your partner is a spender? Understanding these tendencies helps in finding a middle ground and financial strategy that works for both parties.
2. Budgeting as a Team
If you’re sharing expenses, whether partially or fully, having a clear budget ensures financial clarity. Discuss who will cover what expenses, how you’ll manage discretionary spending, and whether you want to combine finances fully, partially, or keep things separate.
3. Setting Financial Goals
What do you both want to achieve in the short-term and long-term? This could include saving for a big trip, paying for a wedding, purchasing a home, building an emergency fund, saving for childrens’ college, or planning for retirement. Prioritizing and aligning goals allows you to work towards the same financial future.
4. Merging Finances or Not
Some couples prefer joint accounts, while others maintain separate finances with shared expenses. There’s no right or wrong way—it’s about finding what works for you and your partner. Discuss options such as joint savings accounts, investment strategies, or even setting up a financial “date night” to review finances together regularly.
5. Dealing with Debt
If either of you has student loans, credit card debt, or other financial obligations, transparency is key. Discussing openly and honestly how to tackle debt together can prevent future friction and allow you to create a realistic strategy to tackle it.
6. Planning for the Unexpected
Do you both have emergency funds? What about insurance policies? Estate planning? While these topics may not be as exciting as planning a romantic getaway, they are important in ensuring financial security in times of uncertainty. Check out our recent podcast episode with Estate and Trusts Attorney Adam Moskowitz, where we discuss why estate planning and building a financial team for your family is crucial, even when merging finances for the first time.
Not all financial discussions need to be serious or stressful. While we aren’t suggesting taking the fun or romance out of Valentine’s Day, we are suggesting to utilize a date night or alone time here and there to discuss the not so common topics such as finances and your financial future.
Valentine’s Day is about celebrating love, and part of that love includes supporting each other’s financial well-being. By having open, honest, and constructive financial conversations, you’re not just planning for a great future—you’re strengthening partnership. Whether it’s your first money talk or an ongoing conversation, use this Valentine’s Day or your next date night as a meaningful opportunity to grow together financially and emotionally. Email info@shermanwealth.com if you have any questions on merging finances or facilitating these uncomfortable or often times tough conversations. We know they aren’t always easy, but we are here to simplify and strategize together! Schedule a complimentary intro call here.