Overcoming Financial Challenges in a Relationship

Ask anyone what their most pressing problem is and they'd likely tell you, “Money problems, of course.”
It's a common headache. Most people find a way to work around tight budgets, but it may be tougher for couples.
According to Investopedia's article “Top 6 Marriage-Killing Money Issues” a quarter of all couples say that the biggest issue they face in their relationship is money.
But that's the thing about money problems - they're problems. That means there are solutions out there. They can also be prevented.
Let's analyze fundamental strategies couples can undertake for overcoming financial challenges.
Start with Yourself
Like many things, it's better to become as financially literate as you can be while you're single. It benefits you as an individual, and those are skills that you can take with you in marriage.
Earning a living is just the start. You need to learn how to budget and save and how to responsibly handle debts.
Getting a reliable grasp on the rudiments of finances isn't easy, so it's best to overcome that challenge while you're young, without dependents, and still have a wider margin for error.
But even when you're in a relationship, it's not too late. You just need to take the initiative to learn.
Practice Open Communication
Just as responsible couples discuss their goals and expectations for their relationship, they should also be mindful of the finances area.
You should be observant to see if you're compatible when it comes to your financial values. You and your partner may have different attitudes toward money, and as your relationship progresses, this will become more evident.
Addressing those differences with open communication early on can prevent them from turning into conflict.
Establish a safe space to have those money talks while you're still dating and develop the habit of regularly checking in with each other on the financial front. Don't wait until you have financial problems or are married before you start having those discussions.
Communication matters a lot more when it comes to sensitive topics such as debt. Open and nonjudgmental discussions can make the difference between overcoming financial challenges or letting them tear you apart.
It's not about dictating each other's actions. It's about understanding each other's mindsets. Prioritize finding common ground with each other.
Make Financial Plans Together
Financial planning can be challenging, especially if your goals and methods don't align. Advice from pros can come in handy. If you can, you and your partner should consider approaching finance experts.
But not everyone can afford consultants.
Setting a budget can go a long way in overcoming financial challenges. You can start with the following:
Living expenses (monthly bills and food)
Paying off your debts
Establishing an emergency fund (usually 3-6 months worth)
Those are mostly considered short-term goals. Every couple has different goals and necessities, and they'll have to adjust accordingly.
But every couple should agree on how to meet those goals. Mostly, couples agree to combine their income to address those goals together. Others decide to split the bills depending on their salaries.
Conclusion
Finances are a challenge, but they don't have to be a problem if the couple agrees to work together.
The first thing that couples should agree on? Money matters. Thinking that way is not shallow or immoral. It's just realistic and practical.
It doesn't diminish your love. If, as a couple, you handle financial aspects well, then you strengthen your love. You do so because you minimize the stress that can come with being unprepared for the future and falling short of living well in the present.