A FEW years ago, Paul Clitheroe said that he wanted money to be the sex of the next generation.
He explained that when he was young, sex was a taboo topic whereas now it’s talked about everywhere. He hoped that Gen Y would do the same thing for money: bring it into the mainstream.
The best place to start making that conversational change is with your partner, because according to Relationships Australia, conflict over money is one of the top causes of arguments and relationship breakdowns in Australia (Australia Wedding Planners). To get that money-ball rolling, these are my tips.
Firstly, communicate! You need to know exactly what your current financial situation is, so make a time to sit down together and lay it all out on the table. Your assets, income, expenses and debt. Once you know your starting point, you can improve it.
Secondly, have the right attitude. I suspect many people avoid money talk with their partner because they don’t want an argument. So abolish any hint of blame mentality and promise that there’ll be discussion with no criticism.
Thirdly, draw a line in the sand. Whether it’s ex-partners, former careers or old spending habits, the past is the past and the future can be changed. So work together to dig yourself out of that debt hole.\
Finally, be practical. If you need to cut up your credit cards, do it.
It’s not always easy – personally, I find it excruciating. But working together can make a world of difference to your finances.
He explained that when he was young, sex was a taboo topic whereas now it’s talked about everywhere. He hoped that Gen Y would do the same thing for money: bring it into the mainstream.
The best place to start making that conversational change is with your partner, because according to Relationships Australia, conflict over money is one of the top causes of arguments and relationship breakdowns in Australia (Australia Wedding Planners). To get that money-ball rolling, these are my tips.
Firstly, communicate! You need to know exactly what your current financial situation is, so make a time to sit down together and lay it all out on the table. Your assets, income, expenses and debt. Once you know your starting point, you can improve it.
Secondly, have the right attitude. I suspect many people avoid money talk with their partner because they don’t want an argument. So abolish any hint of blame mentality and promise that there’ll be discussion with no criticism.
Thirdly, draw a line in the sand. Whether it’s ex-partners, former careers or old spending habits, the past is the past and the future can be changed. So work together to dig yourself out of that debt hole.\
Finally, be practical. If you need to cut up your credit cards, do it.
It’s not always easy – personally, I find it excruciating. But working together can make a world of difference to your finances.
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